Description

NSE Clearing publishes the settlement schedule for Mutual Fund Service System transactions including subscription, liquid subscription, and redemption for January 2026.

Summary

NSE Clearing Limited has issued the settlement calendar for the Mutual Fund Service System (MFSS) for January 2026. The circular details settlement schedules for three transaction types: MFSS Subscription (Settlement Type ‘S’), MFSS Liquid Subscription (Settlement Type ‘K’), and MFSS Redemption (Settlement Type ‘U’). The settlement schedules outline payin/payout dates for funds and units across all trading days in January 2026.

Key Points

  • Settlement calendar covers January 1-30, 2026 for all MFSS transaction types
  • MFSS Subscription (Type ‘S’) follows T+1 settlement for units payout
  • MFSS Liquid Subscription (Type ‘K’) follows T-day settlement for both funds and units
  • MFSS Redemption (Type ‘U’) follows scheme-specific settlement timelines (T+1 through T+8)
  • Funds settlement depends on the scheme category and fund’s settlement day
  • 21 settlement cycles scheduled for both subscription types in January 2026
  • Category codes for scheme categories and settlement days provided in Annexure ‘D’

Regulatory Changes

No regulatory changes introduced. This is a routine operational calendar publication.

Compliance Requirements

No new compliance requirements. Participants should:

  • Follow the published settlement schedule for fund and unit movements
  • Check scheme category in scheme master to determine applicable settlement day
  • Ensure timely payin of funds and receipt of units as per scheduled dates

Important Dates

January 2026 Settlement Schedule:

  • First settlement: January 1, 2026 (Settlement No. S/K/U 2026001)
  • Last settlement: January 30, 2026 (Settlement No. S/K 2026021)
  • Note: January 26, 2026 is a holiday (Republic Day) - no settlements scheduled
  • February 2, 2026: Payout date for last subscription settlement of January (S2026021)

Settlement Patterns:

  • Subscription (Type S): T-day funds payin, T+1 units payout
  • Liquid Subscription (Type K): T-day funds and units settlement
  • Redemption (Type U): T-day unit transfer, T+1 to T+8 funds payout depending on scheme category

Impact Assessment

Market Impact: Minimal - routine operational calendar with no changes to settlement processes.

Operational Impact: Low - provides necessary planning information for mutual fund participants, clearing members, and registrar & transfer agents to manage settlement obligations. The calendar ensures all stakeholders are aligned on settlement dates, particularly around the Republic Day holiday on January 26, 2026.

Participant Action Required: Informational only - participants should note the settlement dates for operational planning and ensure adequate funds/units availability on scheduled settlement days.

Impact Justification

Routine administrative circular providing settlement schedule for mutual fund transactions. No regulatory changes or compliance requirements, purely informational for operational planning.