Description
NSE announces revised settlement schedules for Capital Market segment following trading and settlement holiday on January 15, 2026 due to Municipal Corporation Elections in Maharashtra.
Summary
NSE Clearing Limited has announced revised settlement schedules for the Capital Market Segment due to a complete trading and settlement holiday on January 15, 2026, on account of Municipal Corporation Elections in Maharashtra. The circular withdraws the previous circular NCL/CMPT/72224 dated January 09, 2026. There will be no trading and settlement in T+1 settlement number 2026011 and T+0 settlement number 2026511.
Key Points
- Complete trading and settlement holiday on January 15, 2026
- Previous circular NCL/CMPT/72224 dated January 09, 2026 stands withdrawn
- No trading and settlement for T+1 settlement number 2026011
- No trading and settlement for T+0 settlement number 2026511
- Revised settlement schedules issued for all settlement types for January 2026
- Affects Normal Rolling (T+1), Normal Auction, Trade for Trade (T+1), ITP for SME (T+1), and Normal Rolling (T+0) settlements
Regulatory Changes
The circular revises the entire settlement calendar for January 2026 across all settlement types in the Capital Market Segment. Settlement number 2026011 (T+1) is removed from the schedule, and the settlement sequence now skips from 2026010 to 2026012.
Compliance Requirements
- All Members, Custodians, and PCMs must adhere to the revised settlement schedules
- No trading or settlement activities to be conducted on January 15, 2026
- Participants must adjust their operational calendars to reflect the updated settlement dates
- Custodial confirmation dates and settlement dates have been revised for multiple settlements throughout January 2026
Important Dates
- January 12, 2026: Circular issuance date
- January 15, 2026: Trading and settlement holiday (Municipal Corporation Elections in Maharashtra)
- Settlement 2026010: Trade dates January 14, 2026; Settlement date January 16, 2026
- Settlement 2026012: Trade dates January 16, 2026; Settlement date January 19, 2026
- Settlement schedules extend through January 2026 with final settlement 2026021 settling on February 02, 2026
Impact Assessment
Operational Impact: High - Complete suspension of trading and settlement activities on January 15, 2026 affects all market participants including brokers, custodians, and investors. The removal of two settlement numbers (2026011 for T+1 and 2026511 for T+0) requires operational adjustments across the entire trading ecosystem.
Market Participants: All clearing members, custodians, and professional clearing members must update their systems and processes to reflect the revised settlement calendar. This includes adjustments to trade processing, custodial confirmations, and settlement obligations.
Settlement Continuity: The gap in settlement numbers and revised dates throughout January 2026 may affect cash flow planning and securities delivery schedules for institutional and retail participants. The circular provides complete revised schedules for Normal Rolling (T+1), Normal Auction, Trade for Trade (T+1), ITP for SME (T+1), and Normal Rolling (T+0) settlement types to ensure clarity.
Impact Justification
Critical operational change affecting all trading and settlement activities on January 15, 2026 with complete revision of monthly settlement schedules for all market participants