Description

NSE announces multiple settlement schedule for September 8, 2025 due to settlement holiday on September 5, 2025.

Summary

NSE Clearing Limited has announced multiple settlements scheduled for September 8, 2025, due to a settlement holiday on September 5, 2025. The circular provides detailed settlement schedules, pay-in/pay-out timings, auction procedures, and MTF file upload timings for members and custodians.

Key Points

  • Multiple T+1 settlements (A 2025168, M/Z/B 2025169, M/Z/B 2025170) scheduled on September 8, 2025
  • Revised pay-in and pay-out timings with staggered schedule throughout the day
  • Modified auction trading and settlement procedures under revised auction cycle
  • Updated MTF file upload timings for different settlement numbers
  • Early pay-in cut-off time set at 9 p.m. on September 8, 2025

Regulatory Changes

No new regulatory changes introduced. This is an operational adjustment to accommodate the settlement holiday.

Compliance Requirements

  • Members must adhere to revised settlement timings and cut-off periods
  • Take note of depository end cut-off timings due to revised settlement schedule
  • Follow updated auction settlement procedures for shortages
  • Comply with MTF file upload timing windows
  • Securities marked as early pay-in on trading day will be considered for margin reporting

Important Dates

  • September 5, 2025: Settlement holiday
  • September 8, 2025: Multiple settlements day with staggered timings:
    • A 2025168: Pay-in 08:00 hrs, Pay-out 10:00 hrs
    • M/Z/B 2025169: Pay-in 10:30 hrs, Pay-out 15:30 hrs
    • M/Z/B 2025170: Pay-in 16:30 hrs, Pay-out 21:30 hrs
  • September 9-10, 2025: Subsequent auction settlement dates

Impact Assessment

Moderate operational impact on all capital market participants. Members and custodians need to adjust their settlement processes and timing schedules. The staggered settlement approach helps manage operational load but requires careful coordination. No direct market trading impact, but operational efficiency may be affected due to compressed settlement timeline.

Impact Justification

Operational changes affecting settlement timings and procedures for all market participants