Description
BSE announces the trading and settlement schedule for the New Debt Segment (NDS) for the period 01.04.2026 to 30.04.2026, covering 19 settlement cycles with corresponding pay-in/pay-out and auction dates.
Summary
BSE, through Indian Clearing Corporation Ltd. (ICCL), has published the Trading and Settlement Programme for the New Debt Segment (NDS) covering the period from 01 April 2026 to 30 April 2026. The programme outlines 19 settlement cycles (NDS-001/26-27 through NDS-019/26-27) with specific trading dates, 6A/7A entry and confirmation deadlines, pay-in/pay-out dates, and auction dates.
Key Points
- 19 settlement cycles scheduled for April 2026 (NDS-001/26-27 to NDS-019/26-27)
- DP Settlement numbers run from 2627001 to 2627019
- Trading commences on 02 April 2026 (first trading day of the new financial year FY 2026-27)
- Regular pay-in deadline: 11:00 a.m.; members must submit pay-in instructions to Depositories/banks by 10:50 a.m.
- Auction pay-in deadline: 9:30 a.m.; members must submit instructions by 9:20 a.m.
- Issued by Tajindersingh Virdi, Assistant Vice President, Indian Clearing Corporation Ltd.
Regulatory Changes
No regulatory changes introduced. This is a routine operational notice publishing the standard settlement calendar for the upcoming month.
Compliance Requirements
- Members trading in the New Debt Segment must adhere to the specified pay-in timelines for each settlement cycle.
- Pay-in instructions for regular settlements must be submitted to Depositories/banks by 10:50 a.m. (pay-in at 11:00 a.m.).
- Auction pay-in instructions must be submitted by 9:20 a.m. (auction pay-in at 9:30 a.m.).
- Members should plan their 6A/7A entry and confirmation activities in line with the published schedule.
Important Dates
| Settlement No. | Trading Date | Pay-in/Pay-out Date | Auction Pay-in/Pay-out Date |
|---|---|---|---|
| NDS-001/26-27 | 02-04-2026 | 06-04-2026 | 07-04-2026 |
| NDS-002/26-27 | 06-04-2026 | 07-04-2026 | 08-04-2026 |
| NDS-003/26-27 | 07-04-2026 | 08-04-2026 | 09-04-2026 |
| NDS-004/26-27 | 08-04-2026 | 09-04-2026 | 10-04-2026 |
| NDS-005/26-27 | 09-04-2026 | 10-04-2026 | 13-04-2026 |
| NDS-006/26-27 | 10-04-2026 | 13-04-2026 | 15-04-2026 |
| NDS-007/26-27 | 13-04-2026 | 15-04-2026 | 16-04-2026 |
| NDS-008/26-27 | 15-04-2026 | 16-04-2026 | 17-04-2026 |
| NDS-009/26-27 | 16-04-2026 | 17-04-2026 | 20-04-2026 |
| NDS-010/26-27 | 17-04-2026 | 20-04-2026 | 21-04-2026 |
| NDS-011/26-27 | 20-04-2026 | 21-04-2026 | 22-04-2026 |
| NDS-012/26-27 | 21-04-2026 | 22-04-2026 | 23-04-2026 |
| NDS-013/26-27 | 22-04-2026 | 23-04-2026 | 24-04-2026 |
| NDS-014/26-27 | 23-04-2026 | 24-04-2026 | 27-04-2026 |
| NDS-015/26-27 | 24-04-2026 | 27-04-2026 | 28-04-2026 |
| NDS-016/26-27 | 27-04-2026 | 28-04-2026 | 29-04-2026 |
| NDS-017/26-27 | 28-04-2026 | 29-04-2026 | 30-04-2026 |
| NDS-018/26-27 | 29-04-2026 | 30-04-2026 | 04-05-2026 |
| NDS-019/26-27 | 30-04-2026 | 04-05-2026 | 05-05-2026 |
Note: 14 April 2026 (Dr. Ambedkar Jayanti) is a market holiday, reflected in the schedule gaps.
Impact Assessment
This circular has moderate operational impact on debt market participants — brokers, clearing members, and custodians active in BSE’s New Debt Segment. It marks the beginning of the FY 2026-27 settlement cycle series. The last two settlements (NDS-018 and NDS-019) have pay-out and auction pay-out dates spilling into May 2026 (04-05-2026 and 05-05-2026 respectively), which members should account for in their liquidity planning. No market-wide systemic impact is anticipated.
Impact Justification
Routine operational circular publishing the monthly settlement calendar for NDS; relevant to debt market participants but does not introduce regulatory changes.