Description
BSE announces trading and settlement schedule for mutual fund transactions from September 1-30, 2025, covering subscription and redemption processes.
Summary
BSE has announced the trading and settlement programme for the mutual fund segment for September 2025. The circular provides detailed settlement schedules for mutual fund subscriptions (both liquid and non-liquid) and redemptions, with specific dates for funds pay-in, units allocation, and payout processes.
Key Points
- Settlement programme covers period from September 1-30, 2025
- Different schedules for liquid vs non-liquid mutual fund subscriptions
- Non-liquid fund payouts occur on T+1 basis
- Liquid fund transactions settle same day (T+0)
- NFO scheme payouts depend on funds confirmation received by ICCL by 6:00 PM on T day
- Redemption payouts vary based on scheme TAT (T+1 to T+10)
Regulatory Changes
No regulatory changes announced - this is a routine operational schedule update.
Compliance Requirements
- AMCs must adhere to specified settlement timelines
- Funds payout for non-liquid transactions must happen before 3:00 PM on T day
- NFO transactions require funds confirmation to ICCL by 6:00 PM on T day for T+1 payout
- Market participants must check scheme master on BSE Star MF Platform for redemption TAT details
Important Dates
- Effective Period: September 1-30, 2025
- Settlement Numbers: 2526104 to 2526125
- Non-liquid Subscriptions: T day funds pay-in, T+1 units payout
- Liquid Subscriptions: Same day settlement (T+0)
- Redemptions: Variable payout based on scheme TAT (T+1 to T+10)
Impact Assessment
This operational circular ensures smooth functioning of mutual fund trading on BSE during September 2025. The differentiated settlement cycles for liquid vs non-liquid funds maintain market efficiency while providing clarity to all participants on exact settlement dates and processes.
Impact Justification
Operational circular affecting mutual fund trading procedures for all market participants