Description

BSE announces the trading and settlement schedule for Basket Repo and Special Repo segments for February 2026, covering Ready Leg T+0, T+1, and Forward Leg settlements with detailed timings.

Summary

BSE has issued the trading and settlement programme for the Basket Repo and Special Repo segments for the period from February 1, 2026 to February 28, 2026. The circular outlines settlement schedules for Ready Leg T+0, Ready Leg T+1, and Forward Leg transactions, covering 19 trading days in February 2026. Settlement numbers range from 2526206 to 2526224.

Key Points

  • Settlement schedule covers February 1-28, 2026 for Basket Repo and Special Repo segments
  • 19 trading days scheduled (excluding February 1, 7, 8, 14, 15, 19, 21, 22, 28)
  • Three settlement types: Ready Leg T+0, Ready Leg T+1, and Forward Leg
  • Settlement numbers: 2526206 through 2526224
  • Reference to ICCL Notice No.20180525-18 dated May 25, 2018 for detailed procedures

Settlement Timings

Ready Leg T+0:

  • BASKET Repo Pay-in: 02:15 PM
  • BASKET Repo Pay-out: By 03:00 PM
  • SPECIAL Repo Pay-in/Payout: By 03:00 PM

Ready Leg T+1:

  • BASKET Repo Pay-in: 02:15 PM
  • BASKET Repo Pay-out: By 03:00 PM
  • SPECIAL Repo Pay-in/Payout: By 01:00 PM

Forward Leg:

  • BASKET Repo Pay-in: 02:15 PM
  • BASKET Repo Pay-out: By 03:00 PM
  • SPECIAL Repo Pay-in/Payout: By 03:00 PM

Important Dates

  • Effective Period: February 1, 2026 to February 28, 2026
  • First Settlement: February 2, 2026 (Settlement No. 2526206)
  • Last Settlement: February 27, 2026 (Settlement No. 2526224)
  • Non-Trading Days in February: 1st, 7th, 8th, 14th, 15th, 19th, 21st, 22nd, and 28th

Settlement Structure

Ready Leg T+0: Same-day settlement where transaction date, pay-in date, and pay-out date are identical.

Ready Leg T+1: Next-day settlement where pay-in and pay-out occur one business day after the transaction date.

Forward Leg: Settlement occurs on T+1 basis with securities/funds pay-in and pay-out on the next business day.

Compliance Requirements

  • Market participants must adhere to the specified settlement timings for pay-in and pay-out
  • Participants should refer to ICCL Notice No.20180525-18 dated May 25, 2018 for comprehensive settlement procedures
  • All transactions must be completed within the designated time windows for each settlement type

Impact Assessment

This is a routine operational circular with minimal market impact. It provides clarity and advance notice to market participants regarding trading and settlement schedules for repo segments in February 2026. The notice ensures smooth functioning of the Basket Repo and Special Repo markets by establishing clear settlement dates and timings. No changes to existing procedures or timings are introduced.

Impact Justification

Routine monthly settlement schedule announcement for repo segments with no changes to existing procedures or timings