Description

NSE Clearing Limited notifies the settlement schedule for Debt Segment and Debt Auction Settlement for January 2026, following T+1 rolling settlement.

Summary

NSE Clearing Limited has published the settlement calendar for the Debt Segment for January 2026. The circular covers two settlement types: Debt Settlement (Settlement Type ‘I’) with T+1 rolling settlement and Debt Auction Settlement (Settlement Type ‘2’) with T+1 rolling settlement. The schedule is issued in pursuance of Regulation 6.2 of NSE Clearing Limited (Capital Market Regulations, 1997).

Key Points

  • Settlement calendar covers the entire month of January 2026
  • Two settlement types are covered: Type ‘I’ (Debt Settlement) and Type ‘2’ (Debt Auction Settlement)
  • Both follow T+1 rolling settlement mechanism
  • Total 21 settlement numbers for January 2026 (2026001 to 2026021)
  • Trading starts from January 1, 2026 and continues through January 30, 2026
  • Settlement dates account for weekends (no settlements on January 3-4, 10-11, 17-18, 24-26, 31)

Regulatory Changes

No regulatory changes introduced. This is a routine operational calendar notification as per existing regulations.

Compliance Requirements

  • Members, Custodians, and PCMs must adhere to the published settlement schedule
  • Settlement Type ‘I’ (Debt Settlement) follows the schedule in Annexure ‘A’
  • Settlement Type ‘2’ (Debt Auction Settlement) follows the schedule in Annexure ‘B’
  • For clarifications, members should contact the help desk at 1800 266 0050 (IVR Option 2) or email securities_ops@nsccl.co.in

Important Dates

Debt Settlement (Type ‘I’) - Key Dates:

  • First Trade Date: January 1, 2026 (Settlement: January 2, 2026)
  • Last Trade Date: January 30, 2026 (Settlement: February 2, 2026)
  • Republic Day holiday observed: January 26, 2026 (no trading)

Debt Auction Settlement (Type ‘2’) - Key Dates:

  • First Trade Date: January 2, 2026 (Settlement: January 5, 2026)
  • Last Trade Date: February 2, 2026 (Settlement: February 3, 2026)
  • Auction settlements occur 2 business days after trade date

Impact Assessment

Market Impact: Minimal - This is a routine administrative circular providing operational clarity for debt segment participants.

Operational Impact: Low - Standard settlement calendar following established T+1 mechanism. Members can plan their operations and liquidity requirements for January 2026.

Stakeholder Impact: Debt segment members, custodians, and PCMs need to note the settlement dates for operational planning. The calendar helps in managing cash flows and settlement obligations for the month.

Impact Justification

Routine administrative circular providing settlement calendar for debt segment. Standard operational schedule with no regulatory changes or market impact.