Description

Settlement schedule for commodity futures and options contracts expiring in September 2025, including delivery timelines and payment schedules.

Summary

NSE Clearing Limited has issued the settlement calendar for commodity derivatives contracts expiring in September 2025. The calendar covers delivery settlement schedules for futures and options contracts across precious metals (Silver, Gold) and base metals (Aluminium, Copper, Lead, Nickel, Zinc) with specific timelines for delivery marking, pay-in/pay-out of commodities and funds.

Key Points

  • Settlement calendar applies to September 2025 expiring commodity derivatives contracts
  • Covers both futures and options contracts across precious metals and base metals
  • Two delivery logic systems: Compulsory Delivery (Additional Delivery Centre) and Compulsory Delivery (Primary Delivery Centre)
  • All settlements follow T+1 settlement type under Intended Market Settlement (IMS) delivery mode
  • Specific time windows provided for delivery intention marking (6:00 PM - 9:00 PM or 10:00 AM - 9:00 PM)

Regulatory Changes

No regulatory changes mentioned - this is a standard operational calendar publication.

Compliance Requirements

  • Market participants must adhere to specified delivery intention marking timelines
  • Commodity pay-in and funds pay-in must be completed within prescribed schedules
  • Penalty charges apply for non-delivery situations
  • Settlement numbers must be tracked for each commodity contract type

Important Dates

  • Contract Expiry Dates: August 29, September 2, and September 5, 2025
  • Delivery Intention Period: August 25-29 and September 1-5, 2025
  • Delivery Marking Windows: 6:00 PM - 9:00 PM or 10:00 AM - 9:00 PM depending on commodity
  • Settlement Pay-out Dates: September 1-11, 2025 (various dates based on commodity type)

Impact Assessment

Market Impact: Medium - affects commodity derivatives traders, clearing members, and delivery participants who need to plan their settlement activities according to the prescribed calendar.

Operational Impact: Medium - requires coordination between market participants for timely delivery of commodities and funds, with specific attention to delivery centre preferences and settlement timelines.

Impact Justification

Regular operational calendar affecting commodity traders and clearing members with specific delivery and payment timelines