Description

BSE announces the trading and settlement schedule for the Institutional Trading Platform (ITP) - SME segment covering the period from February 1, 2026 to February 28, 2026, including special timing arrangements for specific settlement dates.

Summary

BSE has issued the trading and settlement programme for the Institutional Trading Platform (ITP) - SME segment for the period from February 1, 2026 to February 28, 2026. The circular outlines 21 settlement cycles (ITP-210/25-26 through ITP-230/25-26) with corresponding trading dates and pay-in/pay-out dates following a T+1 settlement pattern. Special timing arrangements are specified for four settlements (ITP-209, 210, 223, and 224) with modified pay-in and pay-out schedules.

Key Points

  • Settlement period covers February 1-28, 2026 with 21 settlement cycles
  • Standard pay-in time: 10:00 AM with instructions to be submitted by 9:50 AM
  • Standard pay-out time: 11:00 AM for funds and securities
  • T+1 settlement cycle applies for most trading days
  • Special settlement timings on February 2 and 20, 2026 due to weekend adjustments
  • Settlement numbers range from ITP-210/25-26 to ITP-230/25-26
  • Depository settlement numbers: 2526210 to 2526230

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 9:50 AM for standard settlements
  • For special settlements on February 2 and 20:
    • Morning settlements: Submit instructions by 9:50 AM (pay-in at 10:00 AM, pay-out at 12:30 PM)
    • Evening settlements: Submit instructions by 4:20 PM (pay-in at 4:30 PM, pay-out at 9:30 PM)
  • Members must adhere to the published settlement calendar for trading and settlement activities

Important Dates

  • February 1-28, 2026: Trading period covered by this schedule
  • February 2, 2026: Special settlement timings for ITP-209 (morning) and ITP-210 (evening)
  • February 20, 2026: Special settlement timings for ITP-223 (morning) and ITP-224 (evening)
  • March 2, 2026: Final pay-out date for February 27 trading (ITP-230/25-26)
  • Weekend breaks: February 8-9, 15-16, 22-23 (no trading)

Impact Assessment

Market Impact: Minimal. This is a routine monthly settlement schedule that enables orderly trading and settlement operations in the ITP-SME segment.

Operational Impact: Low. Trading members and clearing members need to plan their operations according to the published schedule. The special timing arrangements on February 2 and 20 accommodate weekend settlements and require attention to modified deadlines.

Participant Impact: All ITP-SME segment participants must follow this schedule for trade execution and settlement obligations. The evening settlement windows on February 2 and 20 provide additional flexibility for settlement completion before extended weekends.

Impact Justification

Routine monthly settlement schedule announcement for ITP-SME segment with standard T+1 settlement cycle and special timing for specific dates due to holidays.