Description

Settlement schedule for currency derivatives segment trading from December 1-31, 2025, including daily settlement dates and December 2025 contract expiry details.

Summary

BSE has published the settlement programme for the Currency Derivatives segment for the period from December 1, 2025 to December 31, 2025. The circular outlines daily trade dates and their corresponding settlement dates, following a T+1 settlement cycle. The December 2025 currency futures contracts will expire on December 29, 2025, with final settlement on December 31, 2025.

Key Points

  • Settlement programme covers December 1-31, 2025
  • Standard T+1 settlement cycle (settlement occurs one business day after trade date)
  • December 2025 currency futures contracts expire on December 29, 2025
  • Final settlement for December 2025 contracts will be on December 31, 2025
  • Last trade date of December 2025 is December 30, 2025 (settles on December 31, 2025)
  • Trading on December 31, 2025 will settle on January 1, 2026
  • No trading on December 6-7, 13-14, 20-21, 25, and 27-28 (weekends and holidays)

Regulatory Changes

No regulatory changes. This is a routine settlement schedule announcement.

Compliance Requirements

  • Market participants must adhere to the published settlement dates for currency derivatives trades
  • Clearing members must ensure funds/obligations are met as per the daily settlement schedule
  • Participants holding December 2025 currency futures contracts must note the expiry date of December 29, 2025

Important Dates

  • December 1-31, 2025: Settlement programme period
  • December 29, 2025: Expiry date (last trading day) for December 2025 currency futures contracts
  • December 31, 2025: Final settlement date for December 2025 currency futures contracts
  • January 1, 2026: Settlement date for trades executed on December 31, 2025

Impact Assessment

This is a routine operational announcement with minimal market impact. It provides transparency and advance notice of settlement timelines for currency derivatives market participants. The schedule follows standard T+1 settlement practices and allows traders and clearing members to plan their cash flow and position management for December 2025. The December contract expiry date aligns with standard monthly futures contract cycles.

Impact Justification

Routine monthly settlement schedule announcement for currency derivatives segment with standard T+1 settlement cycle and expected contract expiry dates.