Description

Settlement schedule for currency derivatives segment from January 1 to January 31, 2026, including daily settlement dates and January 2026 contract expiry details.

Summary

BSE has announced the settlement programme for the Currency Derivatives Segment covering the period from January 1, 2026 to January 31, 2026. The circular provides daily settlement dates corresponding to each trade date and specifies the expiry schedule for January 2026 currency futures contracts.

Key Points

  • Settlement calendar covers all trading days in January 2026
  • Daily settlements occur on T+1 basis (next business day after trade date)
  • January 2026 currency futures contracts expiry scheduled for January 28, 2026
  • Final settlement for January 2026 expiry will occur on January 30, 2026
  • No trading holidays within the January 2026 period except weekends

Regulatory Changes

No regulatory changes. This is a routine operational circular establishing the monthly settlement calendar.

Compliance Requirements

  • Market participants must adhere to the published settlement schedule
  • Members must ensure readiness for daily settlement obligations as per the calendar
  • Participants trading January 2026 futures contracts must note the expiry date of January 28, 2026
  • Final settlement obligations for expiring contracts must be met by January 30, 2026

Important Dates

  • Settlement Period: January 1, 2026 to January 31, 2026
  • January 2026 Futures Expiry (Last Trading Day): January 28, 2026
  • January 2026 Futures Final Settlement: January 30, 2026
  • First Trade Date: January 1, 2026 (Settlement: January 2, 2026)
  • Last Trade Date in Period: January 30, 2026 (Settlement: February 2, 2026)

Impact Assessment

Market Impact: Minimal. This is a standard monthly operational circular that provides necessary schedule information for market participants.

Operational Impact: Low. The settlement schedule follows the regular T+1 pattern with no deviations from normal practice. Market participants can plan their operations and margin requirements accordingly.

Trading Impact: The January 2026 contract expiry on January 28, 2026 is a standard monthly expiry with final settlement two days later, consistent with established market practice.

Impact Justification

Routine monthly settlement calendar for currency derivatives with no material changes to market structure or operations