Description

NSE Clearing Limited has scheduled multiple settlements on April 02, 2026 due to a settlement holiday on April 01, 2026, affecting Capital Market Segment members, custodians, and PCMs.

Summary

NSE Clearing Limited (formerly National Securities Clearing Corporation Ltd.) has announced that due to a settlement holiday on April 01, 2026, multiple settlements have been scheduled on April 02, 2026 for the Capital Market Segment. Members, Custodians, and PCMs are required to note the revised settlement schedule and cut-off timings.

Key Points

  • Settlement holiday on April 01, 2026 triggers multiple settlements on April 02, 2026
  • Three T+1 settlements (2026059, 2026060, 2026061) are scheduled on April 02, 2026 with staggered pay-in and pay-out times
  • Auction trading and settlement under the revised auction cycle for T+1 is also rescheduled
  • Shortages of settlement 2026061 will be conducted together with shortages of 2026062; no separate auction for 2026061
  • Revised timings apply for uploading UNPAID MTF files

Regulatory Changes

No new regulatory changes. This is an operational adjustment to the settlement calendar due to a public/settlement holiday.

Compliance Requirements

  • All Members, Custodians, and PCMs must adhere to the revised settlement schedule for April 02, 2026
  • Members must note the cut-off timings for pay-in at the depositories end under the revised settlement timings
  • Members must upload UNPAID MTF files according to the revised timings announced for T+1 settlements

Important Dates

  • April 01, 2026: Settlement holiday (no settlement)
  • April 02, 2026: Multiple settlements scheduled
    • Settlement 2026059 (Trade Date: 30-Mar-26): Pay-in 08:00 hrs, Pay-out 10:00 hrs
    • Settlement 2026060 (Trade Date: 30-Mar-26): Pay-in 10:30 hrs, Pay-out 15:30 hrs
    • Settlement 2026061 (Trade Date: 01-Apr-26): Pay-in 16:30 hrs, Pay-out 21:00 hrs
  • April 06, 2026: Auction settlement date for A 2026060 (Auction Trade Date: 02-Apr-26)
  • April 07, 2026: Auction settlement date for A 2026062 (Auction Trade Date: 06-Apr-26)

Impact Assessment

This circular has moderate operational impact on Capital Market Segment participants. Members and custodians must carefully manage three back-to-back settlements on April 02, 2026 with tight windows between pay-in and pay-out timings. The compression of multiple settlements into a single day increases operational risk around fund and securities availability. Participants should ensure sufficient liquidity and securities are available early in the day to meet the 08:00 hrs pay-in deadline for settlement 2026059. The absence of an auction for 2026061 (shortages absorbed into 2026062) also requires members to plan accordingly for shortage resolution.

Impact Justification

Operational notice affecting all Capital Market Segment members requiring adjustment to settlement schedules due to April 01 holiday; no new regulation or compliance requirement, but critical for settlement timing adherence.