Description

NSE revises delivery settlement schedule for commodity derivatives contracts expiring in September 2025, including precious metals and base metals.

Summary

NSE has issued a revised delivery settlement schedule for commodity derivatives contracts expiring in September 2025. The circular provides updated timelines for delivery intentions, commodity pay-in/pay-out, and settlement processes for various precious metals (Gold, Silver) and base metals (Aluminium, Copper, Lead, Nickel, Zinc) contracts.

Key Points

  • Settlement schedule covers both Future and Option contracts in commodity derivatives
  • Delivery mode is Intended Market Settlement (IMS) with T+1 settlement type
  • Different settlement timelines for Additional Delivery Centre vs Primary Delivery Centre
  • Specific time windows: 6:00 PM - 9:00 PM for some contracts, 10:00 AM - 9:00 PM for others
  • Covers contracts expiring on August 29 and September 5, 2025

Regulatory Changes

Revision of existing settlement calendar with updated dates and timelines for September 2025 commodity derivatives contracts. No fundamental regulatory framework changes.

Compliance Requirements

  • Market participants must follow revised settlement schedules
  • Delivery intentions must be submitted within specified time windows
  • Pay-in of commodities and funds must occur as per updated timeline
  • Penalty provisions apply for non-delivery situations

Important Dates

  • Contract Expiry Dates: August 29, 2025 and September 5, 2025
  • Delivery Intention Period: August 25-29, 2025 (6:00 PM - 9:00 PM)
  • Settlement Numbers: 250825 through 250905
  • Final settlement completion: September 12, 2025

Impact Assessment

Medium operational impact on commodity derivatives market participants who need to adjust their settlement processes and timelines. Affects trading members dealing in precious metals and base metals contracts with September 2025 expiry.

Impact Justification

Operational change affecting commodity derivatives settlement timelines for market participants