Description

BSE announces the complete trading and settlement schedule for the Securities Lending and Borrowing (SLB) segment for the period from February 1, 2026 to February 28, 2026.

Summary

BSE has published the trading and settlement programme for the Securities Lending and Borrowing (SLB) segment covering February 2026. The schedule includes 20 settlement cycles (SL-210/25-26 through SL-230/25-26) with corresponding depository settlement numbers, trading dates, and pay-in/pay-out timings. Members must submit pay-in instructions to depositories/banks by 07:50 a.m. for regular settlements, with pay-in commencing at 08:00 a.m.

Key Points

  • Settlement schedule covers February 1-28, 2026 with 20 settlement cycles
  • Settlement numbers range from SL-210/25-26 to SL-230/25-26
  • Depository settlement numbers: 2526210 to 2526230
  • Standard pay-in instruction deadline: 07:50 a.m.
  • Regular pay-in time: 08:00 a.m.
  • SLB 6A7A entry and confirmation occur on the same day as trading
  • Pay-out typically occurs T+1 day

Regulatory Changes

No regulatory changes announced in this circular.

Compliance Requirements

  • Members must submit pay-in instructions to depositories/banks latest by 07:50 a.m. for regular 08:00 a.m. pay-in
  • For special timings on February 2 and February 20:
    • First settlement: Pay-in instructions by 07:50 a.m., pay-in at 08:00 a.m., pay-out at 09:30 a.m.
    • Second settlement: Pay-in instructions by 10:05 a.m., pay-in at 10:15 a.m., pay-out at 12:00 p.m.
  • All instructions must be submitted to Indian Clearing Corporation Ltd.

Important Dates

  • February 1, 2026: First settlement cycle begins (SL-210/25-26)
  • February 2, 2026: Special dual settlement day with modified timings
  • February 20, 2026: Special dual settlement day with modified timings
  • February 28, 2026: Last trading date covered in this schedule
  • March 2, 2026: Pay-out for final February settlement (SL-230/25-26)

Special Settlement Days

February 2, 2026 handles two settlements:

  • SL-209/25-26 (January 30 trading): Pay-in 08:00 a.m., Pay-out 09:30 a.m.
  • SL-210/25-26 (February 1 trading): Pay-in 10:15 a.m., Pay-out 12:00 p.m.

February 20, 2026 handles two settlements:

  • SL-223/25-26 (February 18 trading): Pay-in 08:00 a.m., Pay-out 09:30 a.m.
  • SL-224/25-26 (February 19 trading): Pay-in 10:15 a.m., Pay-out 12:00 p.m.

Impact Assessment

This is a routine operational circular with minimal market impact. It provides standard settlement infrastructure for SLB segment participants to plan their operations for February 2026. The schedule follows established T+1 settlement patterns with two days having dual settlements to accommodate previous trading days. No changes to market structure, trading rules, or participant obligations are introduced.

Impact Justification

Routine operational circular providing standard monthly settlement schedule for SLB segment with no regulatory changes or market impact