The Securities and Exchange Board of India’s (SEBI) headquarters in Mumbai. File
| Photo Credit: Reuters
SEBI on May 27 got here out with an ordinary working process (SOP) asking inventory exchanges having commodity derivatives phase to tell about trading disruptions inside quarter-hour of such occurrences and increasing the trading time by half-hour in sure outage circumstances.
Stock exchange outage means stoppage of steady trading, both suo moto by exchange or resulting from causes past the management of the inventory exchange. If an outage happens on one exchange, market hours will stay unchanged on unaffected exchange, SEBI stated in a round.
Under the SOP, the inventory exchange that suffered the outage should intimate SEBI instantly after the incidence of the outage, whereas the bourse has to tell market contributors and trading members inside quarter-hour from the incidence of an outage via broadcast message and by publishing on its web site.
Further, the affected inventory exchange would replace in regards to the ongoing outage in the time intervals of 45 minutes from the preliminary intimation, till normalcy of operations is restored. Extension of trading hours must be talked about in the intimation by the affected inventory exchange.
Affected inventory exchange would restore operations to normalcy on the earliest together with from the Disaster Recovery Site and perform numerous actions.
The pointers will probably be efficient from July 1, 2024, the Securities and Exchange Board of India (Sebi) stated.
For contracts or merchandise traded as much as 5 p.m./9 p.m., SEBI stated that if trading resumes to normalcy a minimum of half-hour earlier than scheduled market closure (excluding quarter-hour of prior intimation time), trading hours would stay unchanged on that exchange.
It additional stated that market contributors should be intimated by 4:15 p.m. or 8:15 p.m. relating to resumption of trading by 4:30 p.m. or 8:30 p.m. If the bourse has despatched the intimation by such time then there is not going to be any extension of trading hour.
If the intimation to market contributors in regards to the resumption of trading will probably be despatched at 4:45 p.m. or 8.45 p.m., then the trading hours will probably be prolonged by half-hour. If intimation isn’t despatched to market contributors by 4:45 p.m. or 8:45 p.m., then there will probably be no extension of trading hours. The intimation must also embody particulars as to when traders can/ought to login to change their place.
For contracts traded as much as 11:30 p.m./11:55 p.m., SEBI stated market contributors must be intimated by 10:45 p.m. or 11:10 p.m. relating to resumption of trading by 11 p.m. or 11:25 p.m. The intimation to re-start trading may be despatched newest till 11:10 p.m.
“The intimation shall, inter-alia, inform that trading shall commence from 11:25 pm for a duration of 30 minutes i.e., extended trading hours would be till 11:55 pm…If intimation is not sent to market participants by 11:10 pm, then there shall be no extension of trading hours,” the regulator stated.
