Description

BSE revises expiry dates for currency derivative contracts (FUTIRD, OPTIRD, FUTCUR, OPTCUR) for March, May, and June 2026 due to trading holiday adjustments.

Summary

BSE has announced changes to the contract expiry dates for currency derivative contracts (FUTIRD, OPTIRD, FUTCUR, OPTCUR) for March, May, and June 2026. These changes are effective from December 31, 2025, and result from adjustments to the 2026 trading holiday calendar. The revised expiry dates will be included in the end-of-day contract master files on December 30, 2025.

Key Points

  • Multiple currency derivative contract expiry dates revised for 2026
  • Changes effective from December 31, 2025
  • Applies to FUTIRD, OPTIRD, FUTCUR, and OPTCUR segments
  • Revisions stem from 2026 trading holiday calendar adjustments (Notice No. 20251223-12 dated December 23, 2025)
  • Updated contract master files available on December 30, 2025

Regulatory Changes

Revised contract expiry dates:

  • FUTIRD and OPTIRD: Changed from March 26, 2026 to March 25, 2026
  • FUTCUR and OPTCUR: Changed from March 27, 2026 to March 25, 2026
  • FUTIRD: Changed from March 31, 2026 to March 30, 2026
  • FUTCUR: Changed from May 27, 2026 to May 26, 2026
  • FUTCUR and OPTCUR: Changed from June 26, 2026 to June 25, 2026

Compliance Requirements

  • Trading members must note the revised contract expiry dates for currency derivatives
  • Systems and processes should be updated to reflect the new expiry dates
  • Members should refer to BSE Exchange Notice No. 20251223-12 dated December 23, 2025 for complete trading holiday information
  • Trading members should download updated contract master files from end-of-day files on December 30, 2025
  • Contact BSE Helpdesk or respective relationship managers for clarifications

Important Dates

  • December 30, 2025: Revised contract master files available in end-of-day files
  • December 31, 2025: Changes become effective
  • March 25, 2026: New expiry date for FUTIRD, OPTIRD, FUTCUR, and OPTCUR (previously March 26-27)
  • March 30, 2026: New expiry date for FUTIRD (previously March 31)
  • May 26, 2026: New expiry date for FUTCUR (previously May 27)
  • June 25, 2026: New expiry date for FUTCUR and OPTCUR (previously June 26)

Impact Assessment

Market Impact: Medium - Trading members dealing in currency derivatives need to adjust their systems and trading strategies to accommodate the revised expiry dates. The changes affect multiple contract types across three months in 2026.

Operational Impact: Trading members must update their risk management systems, trading platforms, and settlement processes to reflect the new expiry dates. The one-day shift in expiry dates may affect hedging strategies and position management for market participants with exposure to these contracts.

Timing: The advance notice (effective December 31, 2025, for contracts expiring in March-June 2026) provides adequate time for members to make necessary system and operational adjustments.

Impact Justification

Operational change affecting currency derivative contract expiry dates for multiple months in 2026. Trading members need to update systems and processes, but this is a scheduled adjustment related to holiday calendar changes.