Description
NSE Clearing Limited publishes the Securities Lending & Borrowing Scheme (SLBS) settlement calendar for April 2026, covering First Leg, Reverse Leg, and Auction Reverse Leg settlement schedules.
Summary
NSE Clearing Limited (NCL) has published the Securities Lending & Borrowing Scheme (SLBS) settlement calendar for April 2026 via Circular Ref. No. 027/2026 (Download Ref No: NCL/CMPT/73106). The calendar covers three settlement types: First Leg Settlement (Type ‘L’), Reverse Leg Settlement (Type ‘P’), and Reverse Leg Auction (Type ‘Q’), issued in pursuance of circular NCL/CMPT/67763 dated April 30, 2025.
Key Points
- First Leg Settlements (Type ‘L’) run from April 1, 2026 to April 30, 2026, with settlement numbers 2026061 through 2026080.
- Settlement dates skip April 3–5 (weekend/holiday), April 11–12, April 14, and April 18–19, reflecting non-business days.
- The final First Leg settlement of the month (2026080, trade date April 30) settles on May 4, 2026.
- Reverse Leg Settlements (Type ‘P’) cover series 04/X4 through 04/X4 (next year), with settlement numbers 2026504–2027504, spanning reverse leg dates from April 7, 2026 to April 6, 2027.
- The current 04/X4 series expires on April 7, 2026; the next 04/X4 series (2027504) becomes available from April 8, 2026 and expires April 6, 2027.
Regulatory Changes
No new regulatory changes are introduced. This circular is an operational notification issued in continuance of the existing SLBS framework established under NCL/CMPT/67763 dated April 30, 2025.
Compliance Requirements
- All Participants and Custodians must adhere to the published settlement schedules for April 2026.
- Custodial confirmation deadlines align with trade dates for all First Leg settlements.
- Participants should note the May 4, 2026 settlement date for trades executed on April 30, 2026.
Important Dates
| Settlement | Trade Date | Settlement Date |
|---|---|---|
| 2026061 | Apr 1, 2026 | Apr 2, 2026 |
| 2026062 | Apr 2, 2026 | Apr 6, 2026 |
| 2026063 | Apr 6, 2026 | Apr 7, 2026 |
| 2026064 | Apr 7, 2026 | Apr 8, 2026 |
| 2026065 | Apr 8, 2026 | Apr 9, 2026 |
| 2026066 | Apr 9, 2026 | Apr 10, 2026 |
| 2026067 | Apr 10, 2026 | Apr 13, 2026 |
| 2026068 | Apr 13, 2026 | Apr 15, 2026 |
| 2026069 | Apr 15, 2026 | Apr 16, 2026 |
| 2026070 | Apr 16, 2026 | Apr 17, 2026 |
| 2026071 | Apr 17, 2026 | Apr 20, 2026 |
| 2026072 | Apr 20, 2026 | Apr 21, 2026 |
| 2026073 | Apr 21, 2026 | Apr 22, 2026 |
| 2026074 | Apr 22, 2026 | Apr 23, 2026 |
| 2026075 | Apr 23, 2026 | Apr 24, 2026 |
| 2026076 | Apr 24, 2026 | Apr 27, 2026 |
| 2026077 | Apr 27, 2026 | Apr 28, 2026 |
| 2026078 | Apr 28, 2026 | Apr 29, 2026 |
| 2026079 | Apr 29, 2026 | Apr 30, 2026 |
| 2026080 | Apr 30, 2026 | May 4, 2026 |
Reverse Leg key date: 04/X4 series (2026504) expires April 7, 2026; new 04/X4 series (2027504) available from April 8, 2026.
Impact Assessment
This is a routine operational circular with no market-wide impact. It affects only participants and custodians actively engaged in the SLBS segment. Traders and institutions using securities lending must update their settlement systems to reflect the April 2026 schedule, particularly noting the T+1 gaps around non-business days and the extended settlement for the April 30 trade date (settling May 4, 2026).
Impact Justification
Routine operational circular publishing the SLBS settlement calendar for April 2026; relevant only to participants and custodians engaged in securities lending and borrowing.