Description

BSE announces trading holiday on January 15, 2026 for Maharashtra Municipal Corporation Elections with revised settlement schedules for Equity, SLB, Derivatives, EGR, Currency and Commodity segments.

Summary

BSE has declared January 15, 2026 as a trading holiday due to Municipal Corporation Elections in Maharashtra. This circular revises the previously announced settlement schedule (Notice No. 20260109-66) to accommodate the trading holiday. All segments including Equity, SLB, Equity Derivatives, EGR, Currency Derivatives, and Commodity Derivatives will be affected with modified settlement dates.

Key Points

  • January 15, 2026 is now a trading holiday for all BSE segments
  • Revised settlement schedules apply to multiple segments
  • Transactions with trade date January 14, 2026 will settle on January 16, 2026 (instead of January 15, 2026)
  • Transactions with trade date January 15, 2026 for EGR and Commodity Derivatives will settle on January 16, 2026
  • No trading or settlement applicable for Equity, SLB, Equity Derivatives, and Currency Derivatives on January 15, 2026
  • This circular supersedes Notice No. 20260109-66 dated January 09, 2026

Regulatory Changes

No regulatory changes. This is an operational announcement regarding a trading holiday and corresponding settlement schedule adjustments.

Compliance Requirements

  • All members must note the trading holiday on January 15, 2026
  • Members must adjust their settlement expectations according to the revised schedule
  • Systems and operations must be configured to accommodate the modified settlement dates
  • All market participants must ensure their back-office systems reflect the updated settlement schedule

Important Dates

  • January 12, 2026: Circular notice date
  • January 14, 2026: Trade date with revised settlement on January 16, 2026 (previously January 15, 2026)
  • January 15, 2026: Trading holiday - no trading or settlement for Equity, SLB, Equity Derivatives, and Currency Derivatives segments
  • January 16, 2026: Revised settlement date for trades from January 14, 2026 and January 15, 2026 (EGR and Commodity Derivatives only)

Impact Assessment

Market Impact: High - Complete trading halt across all BSE segments affecting all market participants.

Settlement Impact: All settlements scheduled for January 15, 2026 are pushed to January 16, 2026, creating a compressed settlement window and potential liquidity considerations.

Operational Impact: Members need to:

  • Update trading calendars and settlement systems
  • Adjust liquidity planning for the extended settlement cycle
  • Communicate with clients about the trading holiday
  • Reconfigure automated trading and settlement systems

Segment-Specific Impact:

  • Equity, SLB, Equity Derivatives, Currency Derivatives: No trading or settlement on January 15, 2026
  • EGR and Commodity Derivatives: Limited trading on January 15, 2026 with same-day settlement on January 16, 2026

Risk Considerations: Market participants should account for the extended settlement period when managing margin requirements and liquidity positions.

Impact Justification

Market-wide trading holiday affecting all segments with mandatory settlement schedule changes impacting all market participants