Description

NSE Clearing publishes the Securities Lending & Borrowing Scheme settlement schedules for March 2026, covering First Leg, Reverse Leg, and Auction Reverse Leg settlements.

Summary

NSE Clearing Limited has issued the Securities Lending & Borrowing Scheme (SLBS) settlement calendar for March 2026. The circular provides detailed settlement schedules for three types of settlements: First Leg Settlement (Type ‘L’), Reverse Leg Settlement (Type ‘P’), and Reverse Leg Auction (Type ‘Q’). This is a routine monthly calendar notification for all participants and custodians.

Key Points

  • Settlement calendar covers March 2026 for all SLBS settlement types
  • First Leg Settlements: 19 settlements scheduled from March 2 to March 30, 2026
  • Reverse Leg Settlements: 13 series expiring between March 4, 2026 and March 2, 2027
  • Auction Reverse Leg Settlements: 13 series with corresponding dates
  • New 03/X3 series (expiring March 2, 2027) available from March 5, 2026
  • Circular issued pursuant to earlier circular NCL/CMPT/67763 dated April 30, 2025

Regulatory Changes

No regulatory changes. This is a routine operational calendar publication.

Compliance Requirements

  • All SLBS participants and custodians must adhere to the published settlement schedules
  • Custodial confirmations must be completed on specified dates
  • Settlement obligations must be met according to the trade dates and settlement dates outlined

Important Dates

First Leg Settlements (Type ‘L’):

  • Settlement numbers 2026042 to 2026060
  • Trade dates: March 2 to March 30, 2026
  • Settlement dates: March 4, 2026 to April 2, 2026

Reverse Leg Settlements (Type ‘P’):

  • Series 03/X3 to 03/X3: March 4, 2026 to March 2, 2027
  • Note: 03/X3 series expiring March 2, 2027 available from March 5, 2026

Auction Reverse Leg (Type ‘Q’):

  • Transaction dates: March 4, 2026 to March 2, 2027
  • Settlement dates: March 5, 2026 to March 3, 2027

Impact Assessment

This is a routine administrative circular with minimal market impact. It provides operational clarity for SLBS participants regarding settlement timelines for March 2026. The calendar ensures smooth functioning of securities lending and borrowing operations by providing advance notice of all settlement dates, enabling participants to plan their liquidity and compliance requirements accordingly.

Impact Justification

Routine administrative circular publishing standard monthly settlement calendar for SLBS participants