Description

NSE Clearing revises settlement schedules for September 9-10, 2025, affecting T+1 settlements, auction cycles, and MTF file upload timings.

Summary

NSE Clearing Limited has revised the settlement schedule for September 9 and 10, 2025, providing updated timings for T+1 settlements, auction settlements, and MTF file uploads. The revision affects multiple settlement types including A, M, Z, and B settlements with specific pay-in and pay-out times.

Key Points

  • Revised settlement schedule covers September 9-10, 2025 with updated pay-in and pay-out timings
  • Multiple settlement numbers affected: A 2025168, M/Z/B 2025169-2025173
  • Auction trading and settlement cycles modified with specific auction settlement numbers
  • UNPAID MTF file upload timings adjusted for affected settlement dates
  • No T+0 settlement (2025666) due to settlement holiday on September 8, 2025
  • Early pay-in cut-off set at 9 p.m. for September 9-10, 2025

Regulatory Changes

No new regulatory requirements introduced. This is an operational schedule revision affecting existing settlement processes.

Compliance Requirements

  • Members, Custodians, and PCMs must note revised settlement timings
  • Adherence to updated pay-in and pay-out times for affected settlement numbers
  • Compliance with revised MTF file upload windows
  • Early pay-in securities marked in depository system on trading day considered for margin reporting

Important Dates

  • September 8, 2025: Settlement holiday - no T+0 settlement
  • September 9, 2025: Multiple settlements with revised timings (A 2025168, M/Z/B 2025169, A 2025169)
  • September 10, 2025: Continued revised settlement schedule (A 2025171, M/Z/B 2025170-2025172)
  • September 11-12, 2025: Extended impact on subsequent settlements

Impact Assessment

Operational impact on capital market participants with adjusted settlement timings requiring coordination between members, custodians, and depositories. The revision ensures smooth settlement operations during the specified period while maintaining market integrity. Members need to adjust internal processes to accommodate the modified schedule and cut-off timings.

Impact Justification

Operational schedule changes affecting settlement timings and processes for specific dates