Description

Trading and settlement schedule for cash segment covering the period from February 1, 2026 to February 28, 2026 under both T+1 and T+0 settlement cycles.

Summary

BSE has published the trading and settlement programme for the Cash Segment covering February 1-28, 2026. The circular provides detailed schedules for both T+1 and T+0 settlement cycles, including settlement numbers, trading dates, pay-in/pay-out dates, and auction settlement timelines. The schedule includes 21 T+1 settlements (2526810 to 2526830) and 19 T+0 settlements (DR-505 to DR-523).

Key Points

  • Settlement programme covers February 1, 2026 to February 28, 2026
  • T+1 cycle: 21 settlements starting from settlement number 2526810
  • T+0 cycle: 19 settlements starting from DR-505/25-26
  • Pay-in timing: 10:30 a.m. with members required to submit instructions to Depositories/Banks by 10:30 a.m.
  • OTR allocation window: up to 8:00 p.m. on T day
  • OTR confirmation window: up to 7:30 a.m. on T+1 day
  • Settlement holidays observed on February 7-8, 14-15, 21-22, and 28, 2026

Regulatory Changes

No regulatory changes. This is a standard monthly settlement schedule publication as per existing SEBI and BSE regulations.

Compliance Requirements

  • Members must submit pay-in instructions to Depositories/Banks latest by 10:30 a.m. on pay-in day
  • Entry of 6A/7A data by members must be completed on specified dates
  • Custodians must confirm 6A/7A data by specified deadlines
  • OTR allocation (Give-up entry) to be completed by 8:00 p.m. on T day
  • OTR confirmation (Take-up entry) by custodians to be completed by 7:30 a.m. on T+1 day
  • Auction offers must be submitted on designated auction settlement dates
  • Members should refer to Notice No. 20221223-17 for detailed OTR procedures

Important Dates

  • February 1, 2026: Programme start date (Settlement 2526810, DR-505)
  • February 2, 2026: First pay-in/pay-out date with @ marking (special timing)
  • February 19, 2026: Mahashivratri - trading day with next day settlement
  • February 20, 2026: Pay-in/pay-out for February 18-19 trades
  • February 28, 2026: Programme end date
  • March 2, 2026: Extended pay-out date for settlement 2526829
  • March 4, 2026: Final auction pay-out for settlement 2526830

Impact Assessment

Operational Impact: Medium - All equity market participants including brokers, custodians, and clearing members must align their operational schedules with the published calendar. The schedule is critical for fund and securities management planning.

Market Impact: Low - Routine settlement schedule with no changes to existing T+1 and T+0 frameworks. Markets continue to operate under established settlement cycles.

System Impact: The @ symbol on certain dates (February 2 and 20) indicates special pay-in/pay-out timings that members must note for system configurations and operational readiness.

Impact Justification

Routine monthly settlement schedule publication essential for operational planning by all market participants, no regulatory changes involved