Description
BSE revises contract expiry dates for currency derivative contracts (FUTIRD, OPTIRD, FUTCUR, OPTCUR) for March, May, and June 2026 effective December 31, 2025.
Summary
BSE has announced changes to contract expiry dates for currency derivative contracts across multiple segments (FUTIRD, OPTIRD, FUTCUR) effective December 31, 2025. These changes apply to contracts expiring in March, May, and June 2026, with most expiry dates being moved one or two days earlier. The changes reference BSE notice 20251223-12 regarding trading holidays for 2026 and will be reflected in end-of-day contract master files on December 30, 2025.
Key Points
- Contract expiry dates revised for FUTIRD, OPTIRD, and FUTCUR segments
- Changes effective from December 31, 2025
- Multiple contracts affected across March, May, and June 2026
- Updates will appear in end-of-day contract master files on December 30, 2025
- Changes necessitated by 2026 trading holiday calendar
Regulatory Changes
No new regulatory framework introduced. This is an operational adjustment to contract expiry dates to align with the 2026 trading holiday calendar for the currency derivatives segment.
Compliance Requirements
Trading Members must:
- Note the revised contract expiry dates for currency derivative contracts
- Update internal systems and processes to reflect new expiry dates
- Review end-of-day contract master files on December 30, 2025
- Contact BSE Helpdesk or relationship managers for clarification if needed
Important Dates
| Segment | Original Expiry Date | Revised Expiry Date |
|---|---|---|
| FUTIRD and OPTIRD | March 26, 2026 | March 25, 2026 |
| FUTCUR and OPTCUR | March 27, 2026 | March 25, 2026 |
| FUTIRD | March 31, 2026 | March 30, 2026 |
| FUTCUR | May 27, 2026 | May 26, 2026 |
| FUTCUR and OPTCUR | June 26, 2026 | June 25, 2026 |
Effective Date: December 31, 2025
Contract Master File Update: December 30, 2025 (end of day)
Impact Assessment
Operational Impact: Trading members and participants in currency derivatives must update their trading systems, risk management frameworks, and settlement calendars to reflect the revised expiry dates. The changes are relatively minor (1-2 day adjustments) but require attention to avoid errors in contract management.
Market Impact: Limited direct market impact as this is an administrative adjustment. However, traders with positions in affected contracts need to be aware of the revised expiry timeline for rolling over positions or settlement planning.
Affected Segments: Currency Derivatives (FUTIRD, OPTIRD, FUTCUR) - all trading members active in these segments need to implement changes.
Impact Justification
Impacts trading members dealing in currency derivatives with specific contract expiry date changes for Q2 2026. Operational adjustment required but routine calendar change.