Description

BSE announces the complete trading and settlement schedule for mutual fund transactions (subscription and redemption) for the period February 1-28, 2026, covering liquid and non-liquid funds.

Summary

BSE has published the trading and settlement programme for its Mutual Fund segment covering the period from February 1, 2026 to February 28, 2026. The circular provides detailed settlement schedules for mutual fund subscriptions (both liquid and non-liquid) and redemptions, including settlement numbers, transaction dates, funds pay-in dates, and units/securities payout dates.

Key Points

  • Settlement schedule covers 20 trading sessions from February 2-27, 2026 (settlement numbers 2526207 to 2526226)
  • Non-liquid fund subscriptions follow T+1 payout cycle (units credited next business day)
  • Liquid fund subscriptions follow T+0 payout cycle (same-day settlement)
  • Funds payout to AMCs for non-liquid transactions happens before 3:00 PM on T day
  • NFO scheme payouts processed on T day based on funds confirmation received by ICCL till 6:00 PM
  • Redemption settlements vary by scheme TAT (T1 through T10 cycles)
  • February 19, 2026 included in redemption schedule but excluded from liquid fund subscription schedule

Regulatory Changes

No regulatory changes introduced. This is a routine operational schedule circular.

Compliance Requirements

  • Market participants must adhere to the published settlement timelines for mutual fund transactions
  • AMCs should ensure availability of funds/units as per the specified pay-in schedules
  • Investors should verify specific scheme TAT in the scheme master on BSE Star MF Platform for redemption payout timelines
  • Members must ensure funds confirmation reaches ICCL by 6:00 PM on T day for NFO schemes

Important Dates

  • Schedule Period: February 1-28, 2026
  • First Settlement: February 2, 2026 (Settlement No. 2526207)
  • Last Settlement: February 27, 2026 (Settlement No. 2526226)
  • Trading Days: 20 sessions during February 2026
  • Non-Trading Days: February 7, 8, 14, 15, 21, 22, 28 (weekends) - no settlements scheduled

Impact Assessment

Market Impact: Minimal. This is a routine operational circular that ensures smooth functioning of the mutual fund trading platform.

Operational Impact: Medium for mutual fund intermediaries and AMCs who need to plan their settlement operations, fund transfers, and back-office processes according to this schedule.

Investor Impact: Low. The schedule maintains standard settlement practices with clear timelines for subscription and redemption processing. Investors should note the varying TAT for different redemption schemes (T1 to T10) when planning liquidity needs.

Impact Justification

Routine operational circular providing settlement schedule for mutual fund transactions. Essential for MF participants but no policy changes or market impact.