Description

BSE announces revised daily settlement schedule for currency derivatives segment from January 1-31, 2026, including January 2026 contract expiry on January 28, 2026.

Summary

BSE has issued a revised settlement programme for the Currency Derivatives Segment covering the period from January 1, 2026 to January 31, 2026. The circular provides a complete schedule of trade dates mapped to their corresponding daily settlement dates. Notably, the January 2026 currency futures contracts will expire on January 28, 2026, with final settlement occurring on January 30, 2026.

Key Points

  • Revised settlement schedule covers January 1-31, 2026
  • Daily settlement dates provided for each trading day
  • January 2026 currency futures contracts expire on January 28, 2026
  • Final settlement for January 2026 contracts on January 30, 2026
  • Settlement follows T+1 to T+4 pattern depending on holidays
  • Notice applies to Currency Derivatives Segment only

Regulatory Changes

No regulatory changes. This is a routine operational schedule update.

Compliance Requirements

  • Market participants must follow the revised settlement schedule for currency derivatives trades
  • Clearing members must ensure timely settlement obligations as per the revised dates
  • Participants must note the January 28, 2026 expiry date for January 2026 currency futures contracts
  • Final settlement obligations for expiring contracts must be completed by January 30, 2026

Important Dates

  • January 1-31, 2026: Revised settlement programme period
  • January 15, 2026: Settlement holiday (trades from January 14, 2026 settle on January 16, 2026)
  • January 28, 2026: Last trading day/expiry date for January 2026 currency futures contracts
  • January 30, 2026: Final settlement date for January 2026 expiring contracts
  • January 26, 2026: Trading holiday (no trades, gap in settlement schedule)

Impact Assessment

Operational Impact: Medium - All participants in currency derivatives segment must adjust their settlement operations according to the revised schedule. The schedule accounts for public holidays including Republic Day (January 26) and a settlement holiday on January 15.

Market Impact: Low - This is a routine schedule update that does not affect trading rules or market structure. However, participants must be aware of the January 28 expiry date for proper position management.

Segment: Currency Derivatives Segment only

Affected Parties: Currency derivatives traders, clearing members, Indian Clearing Corporation Ltd (ICCL)

Action Required: Review and update internal settlement calendars and ensure adequate liquidity for settlement obligations on specified dates.

Impact Justification

Routine operational circular providing revised settlement schedule for currency derivatives. Medium impact as it affects settlement timing for all currency derivatives traders, but represents standard scheduled information rather than policy changes.