Description

BSE announces the detailed trading and settlement schedule for mutual fund transactions (subscription and redemption) for the period January 1-31, 2026, covering both liquid and non-liquid funds.

Summary

BSE has published the comprehensive trading and settlement programme for its Mutual Fund segment covering the period January 1-31, 2026. The circular details settlement numbers, dates, and fund/unit payout schedules for mutual fund subscriptions (both liquid and non-liquid schemes) and redemptions. This is a routine operational schedule that enables market participants to plan their mutual fund transactions and settlements for the upcoming month.

Key Points

  • Settlement schedule covers 21 settlement cycles (Settlement No. 2526187 to 2526207) for January 2026
  • Non-liquid MF subscriptions follow T+1 payout cycle (units credited next business day)
  • Liquid MF subscriptions follow T+0 payout cycle (same-day unit credit)
  • Non-liquid fund payouts to AMCs occur before 3:00 PM on T day
  • NFO (New Fund Offer) scheme payouts happen on T day based on funds confirmation received by ICCL by 6:00 PM
  • Redemption securities pay-in occurs on transaction date (T+0)
  • Redemption fund payouts depend on scheme-specific TAT (T+1 to T+10 days)
  • Schedule excludes weekends and holidays (no settlements on January 3-4, 10-11, 17-18, 24-26, 31)

Regulatory Changes

No regulatory changes introduced. This circular provides the standard monthly settlement calendar following existing BSE Star MF platform procedures.

Compliance Requirements

  • Market participants must adhere to the published settlement schedule for mutual fund transactions
  • AMCs must accept fund payouts as per the designated timelines
  • Investors should verify scheme-specific redemption TAT through the scheme master available on BSE Star MF Platform
  • All participants must comply with the specified cut-off times: 3:00 PM for non-liquid payouts and 6:00 PM for NFO funds confirmation

Important Dates

  • Effective Period: January 1-31, 2026
  • First Settlement: January 1, 2026 (Settlement No. 2526187)
  • Last Settlement: January 30, 2026 (Settlement No. 2526207)
  • Non-Trading Days: January 3-4, 10-11, 17-18, 24-26, 31 (weekends/holidays)
  • Total Settlement Cycles: 21 business days in January 2026

Impact Assessment

Market Impact: Minimal. This is a routine administrative circular that provides operational visibility for the upcoming month. No changes to existing settlement procedures or timelines.

Operational Impact: Low. Market participants (investors, brokers, AMCs, and custodians) can use this schedule for planning mutual fund transactions and cash flow management during January 2026. The schedule maintains continuity with existing settlement practices.

Investor Impact: Neutral. Investors benefit from transparency regarding settlement timelines. Those planning mutual fund subscriptions or redemptions in January 2026 can reference this schedule to understand when units will be credited or redemption proceeds will be received based on their scheme’s TAT.

Impact Justification

Routine monthly settlement schedule announcement for mutual fund segment with no changes to existing processes or requirements