Description
Revised schedule for client collateral segregation reporting by clearing members due to the special live trading session on Sunday, February 1, 2026 for Union Budget presentation.
Summary
The Indian Clearing Corporation Limited (ICCL) has issued a revised schedule for client collateral segregation reporting by clearing members due to the special live trading session scheduled on Sunday, February 1, 2026 for the presentation of the Union Budget. The circular modifies the cut-off dates for reporting corresponding to specific trade dates to accommodate the exceptional trading day.
Key Points
- Special live trading session scheduled on Sunday, February 1, 2026 for Union Budget presentation
- Modified reporting schedule for client collateral segregation applies to clearing members
- Reports for trade dates January 30, 31, and February 1, 2026 will have cut-off date of February 2, 2026
- Non-submission of client collateral segregation reporting will be treated as non-compliance
- Penalties for non-submission will be applicable as per existing circular provisions
Regulatory Changes
No permanent regulatory changes introduced. This is a temporary operational adjustment to accommodate the exceptional Sunday trading session for Union Budget presentation.
Compliance Requirements
Applicable to: All Clearing Members
Requirements:
- Submit client collateral segregation reports according to the revised schedule
- Ensure timely submission by the modified cut-off dates to avoid penalties
- Contact iccl.membership@icclindia.com for any clarifications
Revised Reporting Schedule:
| Trade Date | Cut-Off Date |
|---|---|
| January 30, 2026 | February 2, 2026 |
| January 31, 2026 | February 2, 2026 |
| February 1, 2026 | February 2, 2026 |
| February 2, 2026 | February 3, 2026 |
Important Dates
- January 28, 2026: Circular issued (Notice Date)
- January 30, 2026: First trade date affected by revised schedule
- February 1, 2026: Special live trading session (Sunday) for Union Budget presentation
- February 2, 2026: Cut-off date for reporting trade dates January 30, 31, and February 1
- February 3, 2026: Cut-off date for reporting trade date February 2
Impact Assessment
Operational Impact:
- Clearing members must adjust their internal reporting processes to account for the modified schedule
- The consolidation of three trade dates (Jan 30, 31, Feb 1) to a single cut-off date (Feb 2) may increase processing workload
- Firms should ensure adequate staffing and systems availability on February 2, 2026 to meet reporting deadlines
Market Impact:
- Limited direct market impact as this is an administrative/operational adjustment
- Supports smooth functioning of the special Sunday trading session for Union Budget
Compliance Risk:
- Non-compliance with the revised schedule will attract penalties
- Members must update their compliance calendars and reminder systems to reflect the modified dates
Impact Justification
Operational circular affecting clearing members' reporting schedule due to special Sunday trading session. Non-compliance attracts penalties but is procedural in nature with clear deadlines provided.