Description

BSE announces revised daily settlement schedule for Futures & Options segment covering the trading period from January 1 to January 30, 2026.

Summary

BSE has issued a revised settlement programme for the Futures & Options (F&O) segment for January 2026. The circular provides the complete daily settlement schedule mapping each trade date to its corresponding settlement date for the period from January 1, 2026 to January 30, 2026. This revision accounts for trading holidays and weekend closures during the month.

Key Points

  • Revised settlement schedule covers January 1-30, 2026
  • Daily settlement dates are mapped for each trading day
  • Notice issued by Indian Clearing Corporation Ltd.
  • Applies to all derivatives segment participants
  • Trading holiday on January 15, 2026 reflected in schedule (no trade date)
  • Final January trade date (30th) settles on February 2, 2026

Regulatory Changes

No regulatory changes. This is a routine operational update to the settlement calendar.

Compliance Requirements

  • All F&O segment participants must follow the revised settlement schedule
  • Trading members should update their systems with the revised settlement dates
  • Clearing members must ensure adequate funds/securities are available on respective settlement dates
  • Risk management systems should be aligned with the new settlement timeline

Important Dates

Settlement Schedule (Trade Date → Settlement Date):

  • January 1, 2026 → January 2, 2026
  • January 2, 2026 → January 5, 2026
  • January 5-9, 2026 → Next business day settlements
  • January 12-14, 2026 → Next business day settlements
  • January 15, 2026 - Trading Holiday (no trading/settlement)
  • January 16, 2026 → January 19, 2026
  • January 19-23, 2026 → Next business day settlements
  • January 27-29, 2026 → Next business day settlements
  • January 30, 2026 → February 2, 2026

Impact Assessment

Operational Impact: Medium - All derivatives market participants must adjust their settlement and fund management processes according to the revised schedule.

Market Impact: Low - This is a routine administrative update that does not affect trading rules or margin requirements.

Participant Action Required: Trading and clearing members need to update their back-office systems, settlement calendars, and ensure adequate liquidity planning for the revised settlement dates, particularly noting the trading holiday on January 15 and the month-end settlement extending into February.

Impact Justification

Routine operational circular updating settlement dates for derivatives segment. Medium impact as it affects all F&O market participants' settlement planning but represents standard schedule adjustments including trading holiday on January 15, 2026.