Description

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

Summary

BSE has released the trading and settlement programme for the Mutual Fund segment for November 2025 (01.11.2025 to 30.11.2025). The circular provides settlement numbers and dates for mutual fund subscription transactions (both liquid and non-liquid schemes) and redemption transactions processed through BSE Star MF Platform.

Key Points

  • Settlement cycle covers 19 trading days in November 2025 (settlement numbers 2526146 to 2526164)
  • Non-liquid MF subscription: Funds pay-in on T, units payout on T+1/T+3 depending on date
  • Liquid MF subscription: Same-day settlement (T+0) for funds pay-in and units payout
  • MF redemption: Securities pay-in on transaction date; funds payout depends on scheme TAT (T+1 to T+10)
  • Funds payout to AMCs for non-liquid transactions happens before 3:00 PM on T day
  • NFO scheme payouts occur on T+1 based on funds confirmation received by ICCL by 6:00 PM on T day

Regulatory Changes

No regulatory changes. This is a standard operational calendar.

Compliance Requirements

  • Investors must check scheme-specific redemption TAT in the scheme master available on BSE Star MF Platform
  • AMCs must ensure timely funds confirmation to ICCL by 6:00 PM on T day for NFO schemes
  • All participants must adhere to the published settlement schedule

Important Dates

  • Programme period: November 1-30, 2025
  • First settlement: November 3, 2025 (Settlement No. 2526146)
  • Last settlement: November 28, 2025 (Settlement No. 2526164)
  • Non-liquid funds payout deadline: Before 3:00 PM on T day
  • NFO funds confirmation cutoff: 6:00 PM on T day

Impact Assessment

Routine administrative circular with no market impact. Provides operational clarity for mutual fund trading members, AMCs, and investors regarding settlement timelines for November 2025. The schedule maintains standard settlement practices with T+0 for liquid funds and T+1/T+3 for non-liquid subscriptions, ensuring predictable cash flow management for market participants.

Impact Justification

Routine monthly settlement calendar for mutual fund segment with standard settlement cycles; no regulatory changes or market impact