Description

NSE Clearing revises auction schedule for settlements 2026023 and 2026024, with modified dates for pay-in and settlement completion.

Summary

NSE Clearing Limited has issued a partial modification to the settlement calendar, revising the auction schedule for settlement numbers 2026023 and 2026024. This circular modifies previous circulars NCL/CMPT/72228 (dated January 09, 2026) and NCL/CMPT/72621 (dated February 04, 2026). Key changes include: no auction settlement will be conducted for A-2026023, and shortages from M-2026023 and M-2026024 will be reassigned to later auction settlements.

Key Points

  • No Auction Settlement shall be conducted in A-2026023
  • Shortages (CC and internal shortages) of M-2026023 will be assigned to Auction A-2026024
  • Shortages (CC and internal shortages) of M-2026024 will be assigned to Auction A-2026025
  • Settlement M-2026023: Trade Date 03-Feb-26, Settlement Date 04-Feb-26
  • Settlement M-2026024: Trade Date 04-Feb-26, Settlement Date 05-Feb-26
  • Auction A-2026024: Trade Date 05-Feb-26, Settlement Date 06-Feb-26, Pay-in Time 08:00 AM
  • Auction A-2026025: Trade Date 06-Feb-26, Settlement Date 09-Feb-26, Pay-in Time 08:00 AM

Regulatory Changes

This circular modifies the previously published settlement calendar for February 2026 Capital Market Segment (T+1 & T+0 Settlement). The key regulatory change is the elimination of Auction Settlement A-2026023, with its shortages being redistributed to subsequent auction settlements.

Compliance Requirements

  • All Members, Custodians, and PCMs must note the revised auction schedule
  • Participants must adhere to the revised pay-in timings of 08:00 AM for auctions A-2026024 and A-2026025
  • Members should take note of auction cut-off timings for pay-in at depositories due to revised settlement times on February 06, 2026 and February 09, 2026
  • Shortages must be settled according to the new assignment schedule

Important Dates

  • February 03, 2026: Trade Date for M-2026023
  • February 04, 2026: Settlement Date for M-2026023; Trade Date for M-2026024
  • February 05, 2026: Settlement Date for M-2026024; Auction Trade Date for A-2026024
  • February 06, 2026: Auction Settlement Date for A-2026024 (Pay-in: 08:00 AM); revised depository cut-off timing applies
  • February 06, 2026: Auction Trade Date for A-2026025
  • February 09, 2026: Auction Settlement Date for A-2026025 (Pay-in: 08:00 AM); revised depository cut-off timing applies

Impact Assessment

This circular has operational impact on members with delivery shortages in the Capital Market Segment. The elimination of Auction A-2026023 and reassignment of shortages to later auction settlements affects the timeline for resolving delivery obligations. Members must ensure they are prepared for the revised pay-in times at 08:00 AM for both affected auctions. The changes to depository cut-off timings on February 06 and 09, 2026 require coordination between clearing members and depositories to ensure timely completion of auction settlements.

Impact Justification

Operational circular affecting auction settlement timelines for members with shortages in capital market segment. Important for affected participants to note revised deadlines.