Description
BSE announces the annual calendar for quarterly and monthly settlement of running account of clients' funds lying with trading members for financial year 2026-27.
Summary
BSE has issued the annual calendar for settlement of running account of clients’ funds lying with trading members for financial year 2026-27. The circular provides specific dates for both quarterly and monthly settlement options, with all settlement dates falling on Fridays and/or Saturdays throughout the year.
Key Points
- Settlement calendar covers financial year 2026-27 (April 2026 to March 2027)
- Two settlement options available: Quarterly and Monthly
- All settlement dates are scheduled on Fridays and/or Saturdays
- Quarterly settlements cover four periods: Q1 (April-June), Q2 (July-September), Q3 (October-December), Q4 (January-March)
- Monthly settlement dates provided for all 12 months
- Trading members must settle clients’ funds as per the prescribed schedule
Regulatory Changes
No new regulatory changes introduced. This is a routine annual calendar announcement for the upcoming financial year in compliance with existing SEBI regulations regarding settlement of client funds.
Compliance Requirements
- Trading members must settle running account of clients’ funds on the specified dates
- Settlement must be completed on the designated Friday and/or Saturday as per the calendar
- Trading members should plan their operations and inform clients accordingly
- Compliance with quarterly or monthly settlement frequency as applicable to the trading member
Important Dates
Quarterly Settlement Dates (FY 2026-27):
- Q1 (April-June 2026): 17th &/or 18th April 2026 (Friday &/or Saturday)
- Q2 (July-September 2026): 3rd &/or 4th July 2026 (Friday &/or Saturday)
- Q3 (October-December 2026): 16th &/or 17th October 2026 (Friday &/or Saturday)
- Q4 (January-March 2027): 1st &/or 2nd January 2027 (Friday &/or Saturday)
Monthly Settlement Dates (FY 2026-27):
- April 2026: 17th &/or 18th (Friday &/or Saturday)
- May 2026: 15th &/or 16th (Friday &/or Saturday)
- June 2026: 5th &/or 6th (Friday &/or Saturday)
- July 2026: 3rd &/or 4th (Friday &/or Saturday)
- August 2026: 7th &/or 8th (Friday &/or Saturday)
- September 2026: 4th &/or 5th (Friday &/or Saturday)
- October 2026: 16th &/or 17th (Friday &/or Saturday)
- November 2026: 6th &/or 7th (Friday &/or Saturday)
- December 2026: 4th &/or 5th (Friday &/or Saturday)
- January 2027: 1st &/or 2nd (Friday &/or Saturday)
- February 2027: 5th &/or 6th (Friday &/or Saturday)
- March 2027: 5th &/or 6th (Friday &/or Saturday)
Impact Assessment
Operational Impact: Medium - Trading members need to plan their back-office operations and resource allocation around these settlement dates. The predefined calendar enables better operational planning for the entire financial year.
Client Impact: Low to Medium - Clients of trading members should be aware of settlement dates for their fund transfers. The regular schedule provides predictability for cash flow planning.
Market Impact: Low - This is an administrative requirement with no direct impact on trading activities or market operations. However, it ensures proper segregation and timely settlement of client funds, enhancing investor protection.
Compliance Impact: Medium - Trading members must ensure adherence to the settlement schedule to remain compliant with SEBI regulations on client fund management.
Impact Justification
Operational circular providing scheduled dates for mandatory settlement of client funds. Medium impact as it affects all trading members and their operational planning, but low severity as it is a routine annual calendar announcement.