Description

Settlement schedule and timings for Basket Repo and Special Repo segment transactions for the period from February 1, 2026 to February 28, 2026.

Summary

BSE has published the trading and settlement programme for the Basket Repo and Special Repo segment for February 2026. The circular provides detailed settlement schedules for Ready Leg (T+0 and T+1) and Forward Leg transactions, covering 19 settlement numbers from February 2 to February 27, 2026. Settlement timings remain consistent with existing frameworks.

Key Points

  • Settlement period: February 1, 2026 to February 28, 2026
  • 19 settlement cycles scheduled (Settlement No. 2526206 to 2526224)
  • Three settlement schedules provided: Ready Leg T+0, Ready Leg T+1, and Forward Leg
  • Standard settlement timings apply for Basket Repo and Special Repo transactions
  • No trading on February 7, 8, 14, 15, 19, 21, 22, and 28 (weekends/holidays)

Regulatory Changes

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

Compliance Requirements

  • Market participants must adhere to specified pay-in times: 2:15 PM for all settlement types
  • Securities/Funds pay-out timings vary by settlement type:
    • Ready Leg T+0: By 3:00 PM
    • Ready Leg T+1: By 1:00 PM (Special Repo) or 3:00 PM (Basket Repo)
    • Forward Leg: By 3:00 PM
  • Participants should refer to ICCL Notice No. 20180525-18 dated May 25, 2018 for detailed guidelines

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)
  • Final Pay-out for Last Settlement: March 2, 2026 (for T+1 Ready Leg)

Settlement Schedule Details

Ready Leg T+0

Same-day settlement with transaction, pay-in, and pay-out occurring on the same date.

Ready Leg T+1

Next-day settlement with pay-in and pay-out occurring one business day after the transaction date.

Forward Leg

Settlement occurs on T+1 basis matching the transaction maturity date.

Settlement Timings

  • Pay-in Time: 2:15 PM (all types)
  • Basket Repo Pay-out: By 3:00 PM (all legs)
  • Special Repo Pay-out: By 3:00 PM (T+0 and Forward), By 1:00 PM (T+1)

Impact Assessment

Market Impact: Minimal. This is a routine operational circular that provides necessary scheduling information for repo market participants.

Operational Impact: Low. Market participants in the repo segment will use this schedule for planning their February 2026 transactions and settlements. The schedule follows standard settlement conventions with no deviations from normal practice.

Participant Action: Market participants should update their settlement calendars and ensure compliance with specified timings for securities and funds pay-in/pay-out.

Impact Justification

Routine monthly settlement schedule for repo segment with standard T+0 and T+1 settlement cycles. No regulatory changes or special requirements.