Description
Settlement holiday declared for January 15, 2026 due to Municipal Corporation Elections in Maharashtra, affecting settlement schedules across multiple segments.
Summary
BSE has announced a settlement holiday on January 15, 2026 due to Municipal Corporation Elections in Maharashtra. This results in revised settlement dates for transactions across Equity, SLB, Equity Derivatives, Currency Derivatives, EGR, and Commodity Derivatives segments. Settlements originally scheduled for January 15, 2026 will be moved to January 16, 2026. Additionally, January 15, 2026 has been declared a trading holiday for the Currency Derivatives segment.
Key Points
- January 15, 2026 is declared as a settlement holiday due to Municipal Corporation Elections in Maharashtra
- Settlements for trades dated January 14, 2026 postponed from January 15 to January 16, 2026
- Settlements for trades dated January 15, 2026 will occur on January 16, 2026 itself
- Currency Derivatives segment will observe January 15, 2026 as a trading holiday (no trading or settlement)
- Affected segments: Equity, SLB, Equity Derivatives, EGR, Commodity Derivatives, and Currency Derivatives
Regulatory Changes
No permanent regulatory changes. This is a one-time operational adjustment for the settlement holiday.
Compliance Requirements
- Members must note the revised settlement schedule and adjust their operations accordingly
- Ensure adequate arrangements for settlements scheduled on January 16, 2026 which will now handle two days of settlements
- Update internal systems to reflect the revised settlement dates
- Currency Derivatives traders should note that January 15, 2026 is a complete trading holiday for their segment
Important Dates
- January 9, 2026: Notice date
- January 14, 2026: Trade date with settlement revised from January 15 to January 16, 2026
- January 15, 2026: Settlement holiday (and trading holiday for Currency Derivatives)
- January 16, 2026: Revised settlement date for trades from both January 14 and January 15, 2026
Impact Assessment
Operational Impact: Medium - Members need to adjust settlement processes and ensure sufficient resources on January 16, 2026 to handle consolidated settlements. The one-day deferral is manageable but requires operational planning.
Market Impact: Low to Medium - No significant market disruption expected as this is a planned holiday. Currency Derivatives traders will experience a trading holiday, which may impact strategies around that date.
Liquidity Impact: Minimal - The settlement deferral is brief and should not materially affect market liquidity.
Member Action Required: Members must update internal systems, inform clients about revised settlement schedules, and ensure adequate staffing and systems capacity for January 16, 2026 settlements.
Impact Justification
Operational adjustment affecting settlement schedules across multiple segments due to regional elections. Medium impact as settlements are deferred by one day without trading disruption.