Informist, Thursday, Feb 1, 2024
–NSE MD Chauhan: Ready for extended trading hours in equity F&O
–NSE MD on extended trading: Our intl bourse at GIFT trades 21 hours
–NSE MD on extended trading hours: Everyone has to be taken along
–NSE MD Chauhan: Bourses around the world trade for longer hours
By Shiladitya Pandit
MUMBAI – The National Stock Exchange is ready for extended trading hours in the equity derivatives segment, managing director and chief executive officer, Ashishkumar Chauhan said today. Speaking to Informist after a media interaction on the Interim Budget, Chauhan said that trading at NSE’s subsidiary, NSE International Exchange IFSC Ltd, is already taking place for 21.5 hours at Gujarat International Finance Tec-City’s International Financial Services Centre.
The exchange had submitted its proposals on the matter to the Securities and Exchange Board of India around five months back. The market regulator has not yet taken a final call on the proposal.
“It remains to be seen whether SEBI is convinced,” he said. “Whatever the decisions are, we will move accordingly.”
On Monday, Securities and Exchange Board of India Chairperson Madhabi Puri Buch said at a press conference that market infrastructure institutions, particularly the stock exchanges, would need a high resilience of their technology and systems, along with constant maintenance and upgradation, to handle the extended trading hours.
Buch also said that the broking community was divided over the extended trading hours proposal. There are currently divergent views among the broking community, she said. SEBI is still to take feedback from investors on the proposal, she said.
“Ultimately, for us, everyone has to be taken along,” Chauhan said. The NSE is a market services provider in addition to being a frontline regulator. “Whatever people want is fine,” he said.
Large brokers who are into the equity segment are also members of commodity derivatives segment and they “are used to working till 12 (0000 hours) in the night,” operating under the same banking system and other paraphernalia.
According to SEBI, the commodity derivatives volume cannot be compared with that in equity derivatives which is far larger. SEBI chairperson Buch said on Monday that “equity derivatives volume is of a different order of magnitude” than that of the commodity derivatives market.
NSE had proposed to have an additional trading window for equity futures and options segment from 1800 hours to 2100 hours, with a possible extension to 2330 hours at a later stage. At present, the trading hours on NSE are from 0915 hours to 1530 hours. End
With inputs from Rajesh Gajra
Edited by Maheswaran Parameswaran
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to [email protected]
© Informist Media Pvt. Ltd. 2024. All rights reserved.
Source: Cogencis
