Description

BSE announces the trading and settlement schedule for mutual fund transactions (subscription and redemption) for the period November 1-30, 2025, covering liquid and non-liquid schemes.

Summary

BSE has issued the trading and settlement programme for the Mutual Fund segment covering the period November 1-30, 2025. The circular provides detailed settlement schedules for mutual fund subscriptions (both liquid and non-liquid schemes) and redemptions, including settlement numbers, transaction dates, funds pay-in dates, and units/funds payout dates.

Key Points

  • Settlement schedule covers 19 trading days from November 3-28, 2025 (settlement numbers 2526146 to 2526164)
  • Non-liquid mutual fund subscriptions follow T+1 to T+3 settlement cycle for units payout
  • Liquid mutual fund subscriptions settle on T+0 (same day settlement)
  • Funds payout to AMCs for non-liquid transactions happens before 3:00 PM on T day
  • NFO (New Fund Offer) scheme payouts occur on T+1 based on funds confirmation received by ICCL till 6:00 PM on T day
  • Redemption transactions have securities pay-in on the same day as transaction date
  • Redemption funds payout depends on scheme-specific TAT (ranging from T+1 to T+10)

Regulatory Changes

No regulatory changes introduced. This is a routine operational schedule notification.

Compliance Requirements

  • Market participants must adhere to the published settlement schedule for mutual fund transactions
  • AMCs must comply with specified payout timings (before 3:00 PM for non-liquid transactions)
  • Funds confirmation for NFO schemes must be received by ICCL by 6:00 PM on T day
  • Investors should verify scheme-specific redemption TAT in the scheme master available on BSE Star MF Platform

Important Dates

  • Effective Period: November 1-30, 2025
  • First Settlement Date: November 3, 2025 (Settlement No. 2526146)
  • Last Settlement Date: November 28, 2025 (Settlement No. 2526164)
  • Non-Liquid Funds Payout: Before 3:00 PM on T day
  • NFO Funds Confirmation Deadline: 6:00 PM on T day

Impact Assessment

Market Impact: Minimal. This is a routine operational circular that maintains continuity in mutual fund trading and settlement operations.

Operational Impact: Low. The schedule follows standard settlement practices for BSE’s mutual fund platform. Market participants can plan their operations based on the published dates. The differentiation between liquid (T+0) and non-liquid (T+1 to T+3) schemes continues existing practices. Redemption timelines remain scheme-specific as per existing norms.

Impact Justification

Routine operational circular providing scheduled settlement dates for mutual fund transactions with no regulatory changes or market impact