Description

NSE Clearing Limited announces the settlement schedules for January 2026 covering Normal Rolling (T+1 & T+0), Normal Auction, Trade for Trade, and ITP for SME settlement types in the Capital Market Segment.

Summary

NSE Clearing Limited has issued the settlement calendar for January 2026 for the Capital Market Segment in accordance with Regulation 6.2 of the National Securities Clearing Corporation (Capital Market Regulations, 1997). The circular provides comprehensive settlement schedules for five different settlement types: Normal Rolling (T+1) settlement type M, Normal Auction settlement type A, Trade for Trade (T+1) settlement type Z, ITP for SME (T+1) settlement type B, and Normal Rolling (T+0) settlement type 5.

Key Points

  • Settlement schedules published for January 2026 across multiple settlement types
  • 21 settlement cycles scheduled for Normal Rolling (T+1) type M during January 2026
  • 21 settlement cycles scheduled for Normal Auction type A during January 2026
  • Settlement schedules cover T+1 and T+0 settlement mechanisms
  • Circular reference number: 401/2025, Download reference: NCL/CMPT/71926
  • Applicable to all Members/Custodians/PCMs
  • Help desk contact: 1800 266 0050 (IVR Option 2), Email: securities_ops@nsccl.co.in

Regulatory Changes

No regulatory changes introduced. This is a routine operational notification in compliance with existing NSCCL regulations.

Compliance Requirements

  • Members, Custodians, and PCMs must follow the settlement schedules as specified in the annexures
  • Custodial confirmations must be submitted on the dates specified in the settlement calendar
  • Settlement obligations must be met on the designated settlement dates
  • Members should refer to specific annexures (A through E) for detailed settlement type schedules

Important Dates

Normal Rolling (T+1) Settlement Type M:

  • First settlement: Trade date 01-Jan-26, Settlement date 02-Jan-26 (Settlement No. 2026001)
  • Last settlement for January: Trade date 30-Jan-26, Settlement date 02-Feb-26 (Settlement No. 2026021)
  • Trading holidays observed: 03-Jan-26, 04-Jan-26, 10-Jan-26, 11-Jan-26, 17-Jan-26, 18-Jan-26, 24-Jan-26, 25-Jan-26, 26-Jan-26, 31-Jan-26

Normal Auction Settlement Type A:

  • First settlement: Trade date 02-Jan-26, Settlement date 05-Jan-26 (Settlement No. 2026001)
  • Last settlement for January: Trade date 02-Feb-26, Settlement date 03-Feb-26 (Settlement No. 2026021)
  • 21 auction settlement cycles scheduled

Trade for Trade (T+1) Settlement Type Z:

  • Details provided in Annexure C (partial data in circular)

ITP for SME (T+1) Settlement Type B:

  • Details provided in Annexure D

Normal Rolling (T+0) Settlement Type 5:

  • Details provided in Annexure E

Impact Assessment

Market Impact: Minimal. This is a standard monthly settlement calendar that maintains operational continuity.

Operational Impact: Members, custodians, and PCMs need to align their internal settlement processes with the published schedule to ensure timely fulfillment of obligations.

Trading Impact: No impact on trading activities. The calendar ensures systematic clearing and settlement of trades executed during January 2026.

Stakeholder Impact: Routine administrative notification affecting all clearing members who must adhere to the scheduled settlement cycles for proper fund and securities settlement.

Impact Justification

Routine monthly settlement calendar notification with standard operational schedules for January 2026. No regulatory changes or market impact, purely administrative.