Description

BSE announces the detailed trading and settlement schedule for the New Debt Segment (NDS) covering the period from February 1, 2026 to February 28, 2026.

Summary

BSE has issued the trading and settlement programme for the New Debt Segment (NDS) for the period from February 1, 2026 to February 28, 2026. The notice, dated January 20, 2026 (Notice No. 20260120-32), provides a comprehensive schedule covering 19 settlement cycles (NDS-205/25-26 through NDS-223/25-26) with corresponding DP settlement numbers, trading dates, entry/confirmation dates, pay-in/pay-out dates, and auction dates.

Key Points

  • Settlement programme covers February 1-28, 2026 with 19 settlement cycles
  • Each trading day has a T+1 settlement cycle for regular pay-in/pay-out
  • Auction settlements follow the regular pay-in/pay-out dates
  • Regular pay-in deadline: 10:50 AM (pay-in at 11:00 AM)
  • Auction pay-in deadline: 9:20 AM (pay-in at 9:30 AM)
  • Members must submit pay-in instructions to depositories/banks before specified cut-off times
  • Schedule accounts for weekends and the February 19, 2026 holiday (Maha Shivaratri)
  • DP settlement numbers range from 2526205 to 2526223

Regulatory Changes

No regulatory changes introduced. This is a routine operational schedule announcement.

Compliance Requirements

  • Members must submit pay-in instructions to depositories/banks by 10:50 AM for regular settlements (pay-in at 11:00 AM)
  • Members must submit auction pay-in instructions to depositories/banks by 9:20 AM (auction pay-in at 9:30 AM)
  • Adherence to the published settlement calendar is mandatory for all NDS participants

Important Dates

Settlement Period: February 1, 2026 to February 28, 2026

First Settlement:

  • Trading Date: February 2, 2026
  • Settlement No.: NDS-205/25-26
  • Pay-in/Pay-out: February 3, 2026
  • Auction Pay-in/Pay-out: February 4, 2026

Last Settlement:

  • Trading Date: February 27, 2026
  • Settlement No.: NDS-223/25-26
  • Pay-in/Pay-out: March 2, 2026
  • Auction Pay-in/Pay-out: March 4, 2026

Holiday Impact: February 19, 2026 (Maha Shivaratri) - trading on February 18 settles on February 20

Key Deadlines:

  • Regular pay-in instructions: 10:50 AM daily
  • Auction pay-in instructions: 9:20 AM on auction dates

Impact Assessment

Market Impact: Low - This is a routine monthly settlement schedule that provides operational clarity to debt market participants. The schedule follows standard T+1 settlement cycles with no deviations from normal practice.

Operational Impact: Low - Market participants in the NDS segment need to note the schedule for planning their settlement activities. The clear demarcation of regular and auction settlement timelines helps in operational planning.

Participant Action Required: Market members and participants in the New Debt Segment should update their internal systems and calendars with these settlement dates and ensure compliance with pay-in instruction deadlines to avoid settlement failures.

Impact Justification

Routine monthly settlement schedule announcement for debt segment with standard timelines. No regulatory changes or compliance impacts, purely operational calendar for market participants.