Description
NSE suspends trading in 25 debt securities (T-Bills, SGBs, Government Securities, and State Government Bonds) from December 2-29, 2025 due to redemption.
Summary
NSE has announced the suspension of trading in 25 debt securities effective from various dates between December 2-29, 2025. The suspended securities include Treasury Bills (T-Bills), Sovereign Gold Bonds (SGBs), Government Securities, and State Government Bonds, all suspended on account of their scheduled redemption. This is a routine operational measure under Regulation 3.1.2 of the NSE Capital Market Trading Regulations Part A.
Key Points
- 25 debt securities will be suspended from trading during December 2025
- Suspension categories include: 9 T-Bills (91-day, 182-day, and 364-day series), 5 Sovereign Gold Bonds, 9 Government Securities, and 2 State Government Bonds (Rajasthan and Goa)
- All suspensions are due to scheduled redemption of the securities
- First suspension date: December 2, 2025
- Last suspension date: December 29, 2025
- Action taken under Regulation 3.1.2 of NSE Capital Market Trading Regulations Part A
Regulatory Changes
No new regulatory changes. This circular implements existing regulations regarding suspension of trading in securities approaching redemption.
Compliance Requirements
- All NSE members must cease trading in the specified securities from their respective suspension dates
- Members should inform their clients holding these securities about the upcoming suspensions and redemptions
- No further trading will be permitted in these securities after their suspension dates
Important Dates
- December 2, 2025: Suspension of 91D041225, 182D041225, 364D041225, SGBDEC25 (4 securities)
- December 4, 2025: Suspension of GS071225C
- December 9, 2025: Suspension of 91D111225, 182D111225, 364D111225, SGBDEC25XI (4 securities)
- December 10, 2025: Suspension of GS121225C
- December 11, 2025: Suspension of GS151225C
- December 12, 2025: Suspension of 535RJ25 (Rajasthan State Bond)
- December 15, 2025: Suspension of GS171225C
- December 16, 2025: Suspension of 91D181225, 182D181225, 364D181225, SGBDEC2512 (4 securities)
- December 19, 2025: Suspension of GS231225C
- December 22, 2025: Suspension of 91D251225, 182D251225 (2 securities)
- December 23, 2025: Suspension of 364D261225, SGBDEC2513 (2 securities)
- December 26, 2025: Suspension of 532RJ25 (Rajasthan State Bond), 541GA25 (Goa State Bond) (2 securities)
- December 29, 2025: Suspension of GS311225C
Impact Assessment
Market Impact: Medium - This is a routine operational event that affects the fixed income and debt securities market. While 25 securities represent a significant number, these suspensions are scheduled and expected by market participants.
Investor Impact: Low to Medium - Investors holding these securities should already be aware of the redemption schedules. The suspensions prevent trading close to redemption dates, which is standard practice. Investors will receive redemption proceeds as per the terms of their securities.
Operational Impact: Low - Standard suspension procedure that NSE members are familiar with. Members need to update their trading systems to block orders for these securities from the respective suspension dates.
Liquidity Impact: Low - As these securities approach redemption, liquidity typically diminishes naturally. The formal suspension formalizes what is already a declining trading interest in near-maturity securities.
Impact Justification
Routine suspension of debt securities for redemption. Affects fixed income traders and investors but is a scheduled event with no unexpected market impact.