Description

Updated settlement schedule for Futures & Options segment for the period from January 1, 2026 to January 31, 2026, including revised dates due to settlement holiday on January 15, 2026.

Summary

BSE has issued a revised settlement programme for the Futures & Options (F&O) segment covering the period from January 1, 2026 to January 31, 2026. The revision accounts for a settlement holiday on January 15, 2026, with settlements for trades on January 14 and 15 being adjusted to January 16, 2026. The circular provides the complete daily settlement schedule mapping each trade date to its corresponding settlement date.

Key Points

  • Revised settlement schedule covers entire month of January 2026 for F&O segment
  • Settlement holiday observed on January 15, 2026
  • Trades dated January 14, 2026 will settle on January 16, 2026
  • Trades dated January 15, 2026 will also settle on January 16, 2026
  • Regular T+1 settlement cycle maintained for all other trading days
  • Final settlement for January 30 trade date will occur on February 2, 2026
  • Circular issued by Indian Clearing Corporation Ltd.

Regulatory Changes

No regulatory changes introduced. This is a standard operational update to the settlement calendar to accommodate the settlement holiday on January 15, 2026.

Compliance Requirements

  • All trading members and clearing members must note the revised settlement dates
  • Participants must ensure adequate funds and securities availability as per the revised schedule
  • Special attention required for trades on January 14 and 15, both settling on January 16
  • Members should update their internal systems and processes to reflect the revised settlement schedule

Important Dates

  • Notice Date: January 9, 2026
  • Effective Period: January 1, 2026 to January 31, 2026
  • Settlement Holiday: January 15, 2026
  • Adjusted Settlement Date: January 16, 2026 (for trades dated January 14 and 15)
  • Month-end Settlement: February 2, 2026 (for trades dated January 30, 2026)

Impact Assessment

This is a routine operational circular with medium impact on F&O market participants. The revised schedule ensures smooth settlement operations during the holiday period. Market participants need to plan their liquidity and margin requirements accordingly, particularly for the consolidated settlement on January 16, 2026 which will process trades from two trading days. No disruption to trading operations is expected, only settlement timelines are adjusted. All brokers, trading members, and clearing members must update their settlement calendars and communicate changes to clients involved in derivatives trading.

Impact Justification

Routine operational circular providing revised settlement schedule for derivatives segment. Medium impact as it affects all F&O participants but is standard administrative update with clear schedule adjustments due to January 15 holiday.