The Central Depository Services (India) Limited (CDSL), on November 12, 2025, has notified depository participants (DPs) regarding the implementation of a Liquidity Window Settlement mechanism in its system. This is in reference to the SEBI circular SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2024/141, dated October 16, 2024, which introduced the Liquidity Window Facility for investors in debt securities through the stock exchange mechanism.
In line with SEBI’s directions, CDSL has created a new Market Type (Code 59) in its system to process settlement transactions related to Liquidity Window settlements. The new market type applies to both major stock exchanges and their respective clearing corporations — specifically, BSE (Exchange ID: 11) with ICCL (Clearing Corporation ID: 10), and NSE (Exchange ID: 12) with NCL (Clearing Corporation ID: 11).
All DPs have been instructed to note these changes and ensure that settlement transactions under this new Liquidity Window are processed accordingly within the CDSL framework. This measure aims to enhance liquidity and streamline post-trade settlement processes for debt market investors.
[Notification No. CDSL/OPS/DP/SETTL/2025/749]
