Description

NSE Clearing announces settlement schedules for March 2026 covering Normal Rolling (T+1 & T+0), Auction, Trade for Trade, and ITP for SME settlement types.

Summary

NSE Clearing Limited has published the settlement calendar for March 2026 for the Capital Market Segment, covering T+1 and T+0 settlement cycles. The circular provides detailed schedules for five 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. This notification is issued under Regulation 6.2 of the National Securities Clearing Corporation (Capital Market Regulations, 1997).

Key Points

  • Settlement calendar covers March 2026 for Capital Market Segment
  • Five settlement types included: M (Normal Rolling T+1), A (Auction), Z (Trade for Trade T+1), B (ITP for SME T+1), and 5 (Normal Rolling T+0)
  • Normal Rolling T+1 settlement covers 19 settlement cycles (2026042 to 2026060)
  • Settlement dates run from March 4, 2026 to April 6, 2026
  • Special note: Shortages of settlement 2026054 will be merged with 2026055, with no auction in 2026054
  • Auction settlements align with corresponding rolling settlement numbers

Regulatory Changes

No regulatory changes are introduced. This circular is a routine notification under existing Regulation 6.2 of the National Securities Clearing Corporation (Capital Market Regulations, 1997).

Compliance Requirements

  • Members, Custodians, and PCMs must adhere to the published settlement schedules
  • Custodial confirmation dates must be observed as specified in the annexures
  • Trade dates, settlement dates, and custodial confirmation dates must be followed for each settlement type
  • For settlement 2026054, participants should note there will be no auction and shortages will be merged with 2026055

Important Dates

  • First Trade Date: March 2, 2026 (Settlement 2026042)
  • Last Trade Date in March: March 30, 2026 (Settlement 2026060)
  • First Settlement Date: March 4, 2026
  • Last Settlement Date: April 6, 2026 (for trades executed March 30, 2026)
  • Special Settlement: Settlement 2026054 (March 19, 2026) - no auction, shortages merged with 2026055
  • Market Holiday Impact: March 14-15, 2026 (no trading sessions reflected in calendar)

Impact Assessment

Market Operations: Medium impact - provides essential planning framework for all capital market participants including members, custodians, and clearing members. The calendar enables proper trade planning, settlement preparation, and cash flow management for the entire month of March 2026.

Operational Impact: All trading members must align their back-office operations, margin requirements, and fund settlements according to the specified dates. The merger of settlement 2026054 shortages with 2026055 requires special operational attention.

Investor Impact: Low direct impact on retail investors, but ensures systematic and predictable settlement processes that maintain market integrity and timely securities delivery.

Contact: For queries, participants can contact the help desk at 1800 266 0050 (IVR Option 2) or email securities_ops@nsccl.co.in.

Impact Justification

Routine settlement calendar notification essential for market participants to plan trades and settlements, but does not introduce regulatory changes or market restrictions