Settlement dates for cash, SLBM segments revised amid consecutive holidays

The settlement cycle for cash, derivatives, and securities lending and borrowing mechanism (SLBM) segments has been revised after September 5 and September 8 were declared as settlement holidays by clearing corporations, markets regulator Sebi said on Monday.

The decision has been taken in consultation with stock exchanges and clearing corporations, the Securities and Exchange Board of India (Sebi) said in a statement.

"The settlement for the derivative segment for the 3 trade days viz. September 04, 2025 (Thursday), September 5, 2025 (Friday) and September 8, 2025 (Monday) will be undertaken on September 9, 2025 (Tuesday)," it said.

For cash and SLBM segments, settlement for trades executed on September 4 and September 5 will also be carried out on September 9, while settlement for trades of September 8 and September 9 will be undertaken on September 10.

Earlier, stock exchanges BSE and NSE had announced September 5 as a settlement holiday. However, after the Maharasthra government shifted public holiday for Eid-e-Milad in Mumbai city and suburban district to September 8, the bourses informed that both September 5 and September 8 will be settlement holidays.

The back-to-back settlement holidays have effectively bunched multiple trade days into single settlement dates, temporarily altering the routine T+1 cycle for equity and SLBM transactions.

Settlement holidays are days when stock markets remain open for trading, but depositories such as NSDL and CDSL stay closed. Investors can still place buy and sell orders on these days, but the delivery of shares does not take place on the following day.

Separately, Multi Commodity Exchange Clearing Corporation Ltd (MCXCCL) also announced a revised settlement schedule for trades executed on September 4, 5, and 8, 2025, in view of changes in bank holidays.

"The net pay-in obligation for trade dates September 4 and 5, 2025 will remain blocked from the available Margin Limit of Clearing Members on September 8, 2025," MCXCCL said.