Description

BSE updates cut-off timing for redemption/switch orders of overnight mutual fund schemes from 7:15 pm to 7:30 pm, effective immediately.

Summary

BSE has updated the cut-off timing for delivery instructions on redemption/switch orders of overnight mutual fund schemes. The new timing extends from 7:15 pm to 7:30 pm, providing an additional 15 minutes for order processing.

Key Points

  • Cut-off timing for redemption/switch orders extended by 15 minutes
  • Change applies specifically to overnight mutual fund schemes
  • New timing: 7:30 pm (previously 7:15 pm)
  • Update effective immediately from August 25, 2025

Regulatory Changes

This update follows SEBI circular SEBI/HO/IMD/PoD2/P/CIR/2025/56 dated April 22, 2025, and previous BSE Exchange Notice No. 20250522-16 dated May 22, 2025.

Compliance Requirements

  • Market participants must adjust their systems to accommodate the new 7:30 pm cut-off timing
  • Delivery instructions for overnight scheme redemptions/switches must be provided by the revised deadline

Important Dates

  • Effective Date: August 25, 2025 (immediate effect)
  • Previous Notice: May 22, 2025 (Exchange Notice No. 20250522-16)
  • SEBI Circular: April 22, 2025

Impact Assessment

The extended cut-off timing provides greater operational flexibility for mutual fund participants and investors, allowing more time for order processing and reducing potential settlement issues. This change primarily benefits operational efficiency in the mutual fund segment.

Impact Justification

Operational change affecting mutual fund trading timings with moderate impact on market participants