BSE, NSE to hold special trading session tomorrow: Details here
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), will conduct a special live trading session tomorrow (January 20). This session will aim to test the readiness of market infrastructure institutions in handling site disruptions. The decision comes after discussions with the Securities and Exchange Board of India (SEBI) and an advisory committee, with the goal of fortifying the exchanges against unforeseen incidents that could impact their operations.
Session timings and price bands
During the special trading session, trading will occur from 9:15am to 10:00am at the Primary Site (PR), and then from 11:30am to 12:30pm at the Disaster Recovery (DR) site. All securities will have a maximum price band of 5%, including those with derivative products available. Securities already in the 2% or lower price band will remain in their respective bands.
Other notable sessions
On the DR site, the pre-open session will commence at 11:15am and end at 11:30am. The Call Auction session for illiquid securities will begin at 11:45am and shall finish at 12:00pm. Finally, the closing session will start at 12:40pm and it will end at 12:50pm. Trading modification time will come to an end at 1:00pm.
Purpose of the special trading session
This session will evaluate the exchanges' ability to restore operations from the DR site within a specified time frame, ensuring business continuity despite potential future disruptions. BSE and NSE stated in separate circulars, "Trading members are requested to note that the exchange will conduct a special live trading session with intraday switch over from Primary Site (PR) to Disaster Recovery Site (DR) on Saturday, January 20, 2024, in equity and equity derivatives segments."
