Description

BSE announces the trading and settlement schedule for mutual fund segment covering subscription (liquid and non-liquid) and redemption transactions for the period December 1-31, 2025.

Summary

BSE has published the trading and settlement programme for its mutual fund segment (BSE Star MF Platform) for December 2025. The circular outlines settlement numbers, dates, and payment schedules for mutual fund subscriptions (both liquid and non-liquid schemes) and redemptions covering 22 trading days from December 1-31, 2025.

Key Points

  • Settlement cycle covers December 1-31, 2025 with 22 settlement numbers (2526165 to 2526186)
  • Non-liquid fund subscriptions follow T+1 payout cycle (units credited next business day)
  • Liquid fund subscriptions follow T+0 payout cycle (same-day settlement)
  • Funds payout to AMCs for non-liquid transactions happens before 3:00 PM on T day
  • NFO scheme payouts occur on T+1 basis upon funds confirmation received by ICCL by 6:00 PM on T day
  • Redemption securities pay-in occurs on transaction date (T+0)
  • Redemption funds payout depends on scheme-specific TAT (T+1 to T+10)

Regulatory Changes

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

Compliance Requirements

  • Market participants must adhere to the published settlement schedule for mutual fund transactions
  • AMCs and intermediaries should ensure funds and securities movement align with specified timelines
  • Investors should check scheme master on BSE Star MF Platform for specific redemption TAT of their schemes

Important Dates

  • Effective Period: December 1-31, 2025
  • Trading Days: 22 business days (excluding December 6-7, 13-14, 20-21, 25, 27-28, 2025)
  • Settlement Numbers: 2526165 through 2526186
  • Key Timing: Non-liquid funds payout to AMCs before 3:00 PM on T day; NFO confirmations by 6:00 PM on T day

Impact Assessment

Market Impact: Minimal - routine monthly schedule with no changes to existing settlement processes.

Operational Impact: Standard operational schedule that mutual fund distributors, AMCs, and clearing corporations use for planning daily settlement activities. The schedule accounts for standard market holidays and weekends in December 2025.

Impact Justification

Routine monthly settlement schedule announcement for mutual fund operations with no regulatory changes or market impact