Description
NSE Clearing revises settlement schedule for currency derivatives due to additional holiday on September 8, 2025.
Summary
NSE Clearing Limited has revised the settlement schedule for currency derivatives in September 2025. September 8, 2025 has been declared a trading and settlement holiday, causing settlement dates to be pushed to September 9, 2025 for affected trade dates.
Key Points
- September 8, 2025 declared as trading and settlement holiday for currency derivatives
- No change in settlement holiday status for September 5, 2025
- Settlement dates revised for trades on September 4 and 5, 2025
- Change follows RBI press release 2025-2026/1042 regarding Negotiable Instruments Act holiday
Regulatory Changes
This circular modifies the previously announced settlement holidays for 2025 (NCL Circular No. 70/2024) to accommodate the additional holiday declaration under the Negotiable Instruments Act.
Compliance Requirements
- All currency derivatives members must note the revised settlement schedule
- Settlement operations to be adjusted accordingly for affected trade dates
- Members should update their systems and processes to reflect the new settlement dates
Important Dates
- September 5, 2025: Settlement holiday status unchanged
- September 8, 2025: Trading and settlement holiday (newly declared)
- September 9, 2025: Revised settlement date for trades on September 4 and 5, 2025
Impact Assessment
Revised Settlement Schedule:
- Trade Date: September 4, 2025 → Settlement moved from September 8 to September 9, 2025
- Trade Date: September 5, 2025 → Settlement date: September 9, 2025
The change affects operational planning for currency derivatives market participants and requires system updates to accommodate the extended settlement timeline.
Impact Justification
Settlement schedule changes affect operational planning for currency derivatives traders and clearing members