Description

Settlement calendar for Mutual Fund Service System (MFSS) subscription transactions for September 2025, including both normal and liquid subscription schedules.

Summary

NSE has released the Mutual Fund Service System (MFSS) settlement calendar for September 2025, detailing settlement schedules for both normal subscription (T+1 settlement) and liquid subscription (T-day settlement) transactions. The calendar covers settlement numbers 2025165 to 2025186 for the month.

Key Points

  • Normal subscription follows T+1 settlement cycle with funds payin/payout on subscription date and units payin/payout on T+1
  • Liquid subscription follows T-day settlement with same-day funds and units payin/payout
  • Settlement calendar covers all trading days in September 2025
  • Settlement numbers range from 2025165 (September 1) to 2025186 (September 30)
  • Weekend and holiday adjustments are reflected in the settlement dates

Settlement Schedule Details

Normal Subscription (T+1 Settlement)

  • Settlement type: ‘S’
  • Funds settlement: Same day as subscription order
  • Units settlement: Next trading day (T+1)
  • Covers 22 trading days in September 2025

Liquid Subscription (T-day Settlement)

  • Settlement type: ‘K’
  • Both funds and units settlement: Same day as subscription order
  • Note: Settlement 2025169 (September 5) is not listed for liquid subscription, likely due to holiday adjustment

Important Dates

  • Effective Period: September 1-30, 2025
  • Holiday Adjustments: September 5, 2025 settlement reflects weekend/holiday consideration
  • Month-end Settlement: September 30, 2025 (Settlement 2025186) with October 1, 2025 units payout for normal subscription

Impact Assessment

This settlement calendar is essential for mutual fund distributors, asset management companies, and investors for planning subscription transactions and cash flow management. The standardized settlement schedule ensures predictable processing of mutual fund investments and redemptions throughout September 2025.

Impact Justification

Operational calendar affecting mutual fund settlement processes, important for market participants but routine administrative information