CDS Monthly Settlement Schedule for April 2026

Description

NSE Clearing Limited has released the Mark to Market settlement schedule for the Currency Derivatives Segment for April 2026, including special settlement dates for T-Bill Futures and MIBOR contracts.

Summary

NSE Clearing Limited (Circular Ref. No: 12/2026) has published the Mark to Market (MTM) settlement schedule for the Currency Derivatives Segment (CDS) for April 2026. The schedule covers 19 trade dates from April 2 to April 30, 2026, with corresponding settlement dates. Two special final settlement dates apply to specific contract types beyond the standard schedule.

Key Points

• Settlement schedule covers trade dates from 02-Apr-2026 to 30-Apr-2026
• Standard MTM settlement follows T+1 pattern, adjusted for exchange holidays
• April 14 (Dr. Ambedkar Jayanti) is a holiday — no trading or settlement on that date
• Final settlement for April 2026 91-Day GOI T-Bill Futures and Cash Settled Currency Futures and Options Contracts: 30-Apr-2026
• Final settlement for April 2026 Overnight Call Rate (MIBOR) Contracts and Cash Settled Interest Rate Contracts: 04-May-2026

Regulatory Changes

No regulatory changes. This is a routine operational schedule circular.

Compliance Requirements

• All CDS members must adhere to the published settlement schedule for MTM obligations
• Members with open positions in 91-Day GOI T-Bill Futures, Cash Settled Currency Futures, and Options must settle by 30-Apr-2026
• Members with open positions in MIBOR and Cash Settled Interest Rate Contracts must settle by 04-May-2026

Important Dates

* Final settlement for April 2026 91-Day GOI T-Bill Futures & Cash Settled Currency Futures and Options Contracts.

** Final settlement for April 2026 Overnight Call Rate (MIBOR) Contracts & Cash Settled Interest Rate Contracts.

Impact Assessment

This circular has a moderate operational impact on CDS members who must align their back-office and risk systems with the published schedule. The extended final settlement date of 04-May-2026 for MIBOR and Interest Rate Contracts means members should account for cross-month settlement obligations. No market-wide disruption is expected; this is standard monthly scheduling.

Impact Justification

Routine operational circular providing settlement schedule for Currency Derivatives Segment members for April 2026; important for members to plan settlement obligations but does not represent regulatory change.