Description

BSE notice detailing the trading and settlement schedule for the Corporate Debt Segment (ICDM) for the period 01.04.2026 to 30.04.2026, covering T+0, T+1, and T+2 settlement cycles.

Summary

BSE has published the trading and settlement programme for the Corporate Debt Segment (ICDM) for the period 01 April 2026 to 30 April 2026. The notice covers settlement schedules for T+0, T+1, and T+2 settlement cycles, with 19 settlement numbers (2627001–2627019) across all three cycles.

Key Points

  • Settlement numbers run from 2627001 to 2627019 covering all trading days in April 2026.
  • Three settlement cycles are defined: T+0 (same-day), T+1 (next trading day), and T+2 (two trading days after transaction).
  • Market holidays observed: 03-04-2026 (Thursday), 11-04-2026 (Saturday), 14-04-2026 (Tuesday), and others — trading resumes 15-04-2026 after the holiday gap.
  • For T+1, the final settlement (2627019, transaction date 30-04-2026) settles on 04-05-2026.
  • For T+2, the last two settlements spill into May: 2627018 (29-04-2026) settles 04-05-2026, and 2627019 (30-04-2026) settles 05-05-2026.
  • Participants must comply with ICCL depository settlement deadline times for transferring securities into the ICCL account.

Regulatory Changes

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

Compliance Requirements

  • Participants trading in the Corporate Debt Segment (ICDM) must ensure timely transfer of securities into the ICCL account by the respective depository settlement deadlines.
  • Reference ICCL Notice No. 20091206-01 dated 06 December 2009 for details on settlement deadline times.

Important Dates

  • Programme period: 01 April 2026 to 30 April 2026
  • First settlement date: 02-04-2026 (Settlement No. 2627001)
  • Last transaction date in programme: 30-04-2026 (Settlement No. 2627019)
  • T+1 final payout: 04-05-2026
  • T+2 final payout: 05-05-2026
  • Notice date: 10 March 2026

Impact Assessment

This notice is of operational importance to brokers, custodians, and clearing members active in the BSE Corporate Debt Segment. It provides forward visibility into settlement dates for April 2026, enabling participants to plan funds and securities pay-in obligations. The spill-over of final settlements into May 2026 for T+1 and T+2 cycles should be noted for end-of-month liquidity planning. No market-wide disruption or regulatory impact is expected.

Impact Justification

Routine operational notice publishing settlement schedules for corporate debt segment participants. Relevant to all entities trading in ICDM but contains no regulatory changes or compliance mandates.