Description

BSE announces the trading and settlement schedule for mutual fund transactions including subscription and redemption for the period December 1-31, 2025.

Summary

BSE has published the trading and settlement programme for the Mutual Fund segment covering the period from December 1, 2025 to December 31, 2025. The circular details settlement numbers, transaction dates, funds pay-in dates, and units/funds payout dates for mutual fund subscriptions (both liquid and non-liquid) and redemptions on the BSE Star MF Platform.

Key Points

  • Settlement schedule covers 22 trading days from December 1-31, 2025 (settlement numbers 2526165 to 2526186)
  • Non-liquid mutual fund subscriptions follow T+1 settlement for units payout
  • Liquid mutual fund subscriptions follow T+0 settlement (same day payout)
  • Funds payout to AMCs for non-liquid transactions occurs before 3:00 PM on T day
  • NFO (New Fund Offer) scheme payouts happen on T+1 basis upon funds confirmation by 6:00 PM
  • Redemption funds payout depends on scheme-specific TAT (ranging from T+1 to T+10)
  • Trading suspended on holidays: December 6-7, 13-14, 20-21, 25, 27-28, 2025

Regulatory Changes

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

Compliance Requirements

  • Market participants must adhere to the published settlement schedule
  • AMCs must confirm funds receipt to ICCL by 6:00 PM on T day for NFO schemes
  • Investors should verify scheme-specific redemption TAT in the scheme master available on BSE Star MF Platform
  • Securities pay-in for redemptions must be completed on transaction date

Important Dates

  • Effective Period: December 1, 2025 to December 31, 2025
  • First Settlement: December 1, 2025 (Settlement No. 2526165)
  • Last Settlement: December 31, 2025 (Settlement No. 2526186)
  • Non-Trading Days: December 6, 7, 13, 14, 20, 21, 25, 27, 28, 2025
  • Funds Payout Deadline: Before 3:00 PM on T day for non-liquid transactions
  • NFO Confirmation Deadline: 6:00 PM on T day for T+1 payout

Impact Assessment

Market Impact: Minimal - This is a routine operational circular that provides transparency and certainty for mutual fund transaction settlements.

Operational Impact: Low - Standard monthly schedule that market participants are accustomed to following. The settlement cycles remain unchanged from previous periods.

Investor Impact: Low - Investors benefit from clear visibility of settlement timelines for their mutual fund transactions. The schedule helps in planning liquidity and understanding when units will be credited or redemption proceeds will be received.

Segment Affected: BSE Mutual Fund segment only, specifically transactions on BSE Star MF Platform.

Impact Justification

Routine operational circular providing standard monthly settlement schedules for mutual fund transactions with no policy changes or market impact