Description

NSE Clearing publishes the Mark to Market settlement schedule for Currency Derivatives Segment for January 2026, including special settlement dates for various contract types.

Summary

NSE Clearing Limited has issued the Mark to Market settlement schedule for the Currency Derivatives Segment for January 2026. The circular provides settlement dates for all trading days in January 2026 and specifies final settlement dates for different types of contracts including 91-Day GOI T-Bill Futures, Cash Settled Interest Rate Contracts, Currency Futures and Options, and Overnight Call Rate (MIBOR) Contracts.

Key Points

  • Settlement schedule covers 21 trading days in January 2026
  • Standard settlements occur T+1 (next business day after trade date)
  • Final settlement for JAN 2026 91-Day GOI T-Bill Futures: January 29, 2026
  • Final settlement for JAN 2026 Cash Settled Interest Rate Contracts and Currency Futures/Options: January 30, 2026
  • Final settlement for JAN 2026 Overnight Call Rate (MIBOR) Contracts: February 2, 2026
  • Circular reference number: NCL/CD/71929, Circular 040/2025

Regulatory Changes

No regulatory changes. This is a routine operational schedule publication.

Compliance Requirements

Members of the Currency Derivatives Segment must:

  • Follow the published settlement schedule for Mark to Market settlements
  • Ensure timely completion of settlements on specified dates
  • Note different final settlement dates for various contract types

Important Dates

  • January 1-30, 2026: Trading days with T+1 settlements
  • January 29, 2026: Final settlement for 91-Day GOI T-Bill Futures
  • January 30, 2026: Final settlement for Cash Settled Interest Rate Contracts and Currency Futures/Options
  • February 2, 2026: Final settlement for Overnight Call Rate (MIBOR) Contracts

Impact Assessment

Routine operational circular with minimal market impact. Provides necessary scheduling information for members to plan their settlement activities for January 2026. The different final settlement dates for various contract types require attention to ensure proper settlement processing for each instrument category.

Impact Justification

Routine monthly settlement schedule publication for operational planning; no policy changes or market impact.