SEBI Reschedules Settlements in Cash, Derivatives and SLBM Segments Amid Double Holiday Disruption
Moneylife Digital Team 08 September 2025
Market regulator Securities and Exchange Board of India (SEBI) has announced revised settlement dates for the cash, derivatives and securities lending and borrowing mechanism (SLBM) segments following back-to-back settlement holidays on 5th September and 8 September 2025. The regulator said the decision was taken in consultation with stock exchanges and clearing corporations.
 
According to SEBI, settlement for the derivatives segment for trades executed on 4th September (Thursday), 5th September (Friday) and 8th September (Monday) will be conducted on 9 September 2025 (Tuesday). 
 
For the cash and SLBM segments, trades carried out on 4th September and 5th September will also be settled on 9 September 2025, while trades executed on 8th September and 9th September will be settled on 10 September 2025.
 
The changes follow notifications by BSE and National Stock exchange (NSE) which had earlier declared 5 September 2025 as a settlement holiday. After the Maharashtra government shifted the Eid-e-Milad public holiday in Mumbai and its suburbs to 8th September, the Exchanges confirmed that both 5th September and 8 September 2025 would be settlement holidays.
 
This bunching of trade settlements has temporarily altered the regular T+1 cycle for equity and SLBM transactions. While trading on these dates remained open, the delivery of shares could not take place due to the closure of depositories such as National Securities Depository Ltd (NSDL) and Central Depository Services (India) Ltd (CDSL).
 
Settlement holidays are days when markets remain open but clearing and depository operations are closed. As a result, investors can trade normally, but the transfer of securities and funds is deferred to the next working day.
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