Description

BSE announces the trading and settlement schedule for mutual fund 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 its Mutual Fund Segment covering November 1-30, 2025. The circular provides detailed settlement schedules for mutual fund subscriptions (both liquid and non-liquid funds) and redemption transactions, including settlement numbers, dates, funds pay-in/pay-out timelines, and units allocation dates.

Key Points

  • Settlement schedule covers 19 trading days from November 3-28, 2025
  • Settlement numbers range from 2526146 to 2526164
  • Non-liquid fund subscriptions: Units payout occurs T+1 to T+3 days
  • Liquid fund subscriptions: Same-day settlement (T+0) for all transactions
  • 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
  • Redemption transactions follow scheme-specific TAT (T1 through T10)

Regulatory Changes

No regulatory changes introduced. This is a standard operational schedule announcement.

Compliance Requirements

  • AMCs must adhere to the specified settlement timelines for subscription and redemption processing
  • Investors should verify scheme-specific redemption TAT from the scheme master available on BSE Star MF Platform
  • Clearing members must ensure funds pay-in by specified deadlines
  • NFO transactions require funds confirmation to ICCL by 6:00 PM on transaction day for next-day payout

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)
  • Total Trading Days: 19 days (excluding holidays on November 5, 15-16, and 29-30, 2025)

Non-Liquid Fund Schedule Highlights

  • Settlement dates: Every trading day from Nov 3-28
  • Units payout: T+1 day for most transactions
  • Funds pay-in: Same as settlement date (T)

Liquid Fund Schedule Highlights

  • Same-day settlement for all transactions (T+0)
  • Both funds pay-in and units payout occur on transaction date

Impact Assessment

Operational Impact: Medium - This circular is critical for operational planning by AMCs, distributors, and investors conducting mutual fund transactions during November 2025.

Market Impact: Low - Routine settlement schedule with no changes to existing processes or timelines.

Investor Impact: Medium - Investors need to be aware of settlement timelines for planning their subscription and redemption transactions, particularly the difference between liquid and non-liquid fund settlement cycles and scheme-specific redemption TAT periods ranging from T+1 to T+10.

Impact Justification

Routine operational circular providing settlement calendar for mutual fund transactions; essential for AMCs and investors but follows standard processes