**Policy Summary: PR No. 612025 - Change in Settlement Dates for Cash, SLBM, and Derivative Segments**
This policy, issued September 8, 2025, addresses changes to settlement dates in the cash, Securities Lending and Borrowing Mechanism (SLBM), and derivative segments of the market due to settlement holidays on September 5 and September 8, 2025.
Specifically, the settlement for derivative segment trades executed on September 4 (Thursday), September 5 (Friday), and September 8 (Monday) will now occur on September 9, 2025 (Tuesday). For the cash and SLBM segments, trades executed on September 4 (Thursday) and September 5 (Friday) will settle on September 9, 2025 (Tuesday), while trades from September 8 (Monday) and September 9 (Tuesday) will settle on September 10, 2025 (Wednesday). Stock Exchanges have communicated these changes and their impact on corporate action ex-date/cum-date to all stakeholders, including trading members, via circulars.
Key Entities Referenced
SLBM: Securities Lending and Borrowing Mechanism segment. A segment of stock exchange.
CCs: Clearing Corporations. Entities that handle the settlement process.
Stock Exchanges: Organized marketplaces where stocks and other securities are bought and sold.
Clearing Corporations: Organizations affiliated with an exchange that are responsible for settling trading accounts, clearing trades, collecting and maintaining margin monies, regulating delivery, and reporting trade data.
Derivative segment: A financial market segment where derivatives such as futures and options are traded.
Mumbai, Maharashtra: A city in Maharashtra, India; mentioned as the location of notification.
Trading Members: Individuals or entities that are members of a stock exchange and authorized to trade on behalf of themselves and their clients.
PR No.61/2025
Change in settlement dates for cash and SLBM segments and its impact
Given the fact that September 08, 2025 has also been declared as a settlement holiday
by CCs in addition to September 05, 2025, in consultation with Stock Exchanges and
Clearing Corporations, the following is informed:
1. The settlement for the derivative segment for the 3 trade days viz. September 04,
2025 (Thursday), September 05, 2025 (Friday) and September 08, 2025
(Monday) will be undertaken on September 09, 2025 (Tuesday).
2. The settlement for the cash and SLBM segment for the trade days of September
04, 2025 (Thursday) and September 05, 2025 (Friday), will be undertaken on
September 09, 2025 (Tuesday).
3. The settlement for the cash and SLBM segment for the trade days of September
08, 2025 (Monday) and September 09, 2025 (Tuesday) will be undertaken on
September 10, 2025 (Wednesday).
In this context Stock Exchanges have also informed all stakeholders/public and their
Trading Members, including by issuing circulars, regarding impact of the above on the
corporate action ex-date/ cum-date.
Mumbai
September 08, 2025
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