Description

BSE announces the trading and settlement schedule for the Institutional Trading Platform (ITP) in the SME segment for the period from February 1, 2026 to February 28, 2026.

Summary

BSE has published the trading and settlement programme for the Institutional Trading Platform (ITP) in the SME segment for February 2026. The circular provides settlement numbers, depository settlement numbers, trading dates, and corresponding pay-in/pay-out dates for 21 settlement cycles (ITP-210/25-26 through ITP-230/25-26) during the period from February 1, 2026 to February 28, 2026.

Key Points

  • Settlement programme covers 21 trading sessions from February 1 to February 27, 2026
  • Settlement numbers range from ITP-210/25-26 to ITP-230/25-26
  • Corresponding depository settlement numbers are 2526210 to 2526230
  • Standard pay-in time is 10:00 a.m. with pay-out at 11:00 a.m.
  • Members must submit pay-in instructions to depositories/banks by 9:50 a.m.
  • Special timing arrangements on February 2 and February 20, 2026 due to multiple settlements on same day

Regulatory Changes

No regulatory changes. This is a routine operational schedule publication.

Compliance Requirements

  • Members must submit pay-in instructions to depositories/banks latest by 9:50 a.m. for standard settlements
  • For special timing settlements on February 2, 2026:
    • ITP-209/25-26: Submit instructions by 9:50 a.m. (pay-in at 10:00 a.m., pay-out at 12:30 p.m.)
    • ITP-210/25-26: Submit instructions by 4:20 p.m. (pay-in at 4:30 p.m., pay-out at 9:30 p.m.)
  • For special timing settlements on February 20, 2026:
    • ITP-223/25-26: Submit instructions by 9:50 a.m. (pay-in at 10:00 a.m., pay-out at 12:30 p.m.)
    • ITP-224/25-26: Submit instructions by 4:20 p.m. (pay-in at 4:30 p.m., pay-out at 9:30 p.m.)

Important Dates

  • February 1-27, 2026: Trading period covered by this schedule
  • February 2, 2026: Special settlement day with dual timings for ITP-209 and ITP-210
  • February 19, 2026: Trading occurs on Wednesday with settlement on February 20
  • February 20, 2026: Special settlement day with dual timings for ITP-223 and ITP-224
  • March 2, 2026: Pay-in/pay-out date for final settlement ITP-230/25-26 (trade date February 27)

Impact Assessment

Operational Impact: Low - This is a standard monthly settlement schedule publication that enables members to plan their operations and fund management for ITP-SME segment trading.

Market Impact: Minimal - No impact on trading or market structure. The schedule maintains regular T+1 settlement cycle for ITP-SME segment with special arrangements on two dates (February 2 and 20) to accommodate multiple settlements.

Member Impact: Members trading in ITP-SME segment need to note the schedule and ensure timely submission of pay-in instructions, particularly for the special timing arrangements on February 2 and February 20, 2026 where two settlements occur on the same day with different timings.

Impact Justification

Routine administrative circular providing monthly trading and settlement schedule for ITP-SME segment. No regulatory changes or market impact, only operational calendar information for exchange members.