Securities and Exchange Board of India (SEBI) (File Photo)
| Photo Credit: Reuters
Capital markets regulator SEBI has rejected a proposal by the National Stock Exchange (NSE) to extend the trading hours within the fairness derivatives phase citing a scarcity of suggestions from the inventory brokers neighborhood.
“Currently, there is no plan to extend the timings as SEBI has returned our application as the stock brokers have not given the feedback that SEBI wanted. So, as of now, the extended time frame (plan) is shelved,” NSE MD and CEO Ashishkumar Chauhan stated in a post-earnings analysts name.
This got here after the NSE had urged SEBI to extend trading hours within the fairness derivatives phase in a phased method. This was geared toward probably curbing the in a single day danger arising from world info move.
The case for extend trading hours
Sriram Krishnan, chief enterprise improvement officer of NSE, had instructed PTI in September that the bourse was planning a session from 6 p.m. to 9 p.m. after a break from the closure of the common session from 9.15 a.m. to 3.30 p.m.
Based on the response, a gradual extension of the market timing until 11.55 p.m. was proposed on the strains of commodity derivatives.
To start with, solely index derivatives in section 1 had been proposed to be obtainable adopted by single inventory choices and others.
In 2018, the Securities and Exchange Board of India (SEBI) allowed inventory exchanges to set their trading hours within the fairness derivatives phase between 9 a.m. and 11.50 p.m.
This was comparable to the trading hours for the commodity derivatives phase, that are presently fastened between 10 a.m. and 11.55 p.m.
Also Read: SEBI permits longer trading hours for SLB phase
The transfer was a part of SEBI’s efforts to allow the mixing of shares and commodities trading on a single change.
NSE’s IPO plan
With regard to NSE’s IPO, Mr. Chauhan stated that “situations remain as in”.
Last month, he stated that NSE is awaiting approval from SEBI to kickstart the preliminary public providing course of. The NSE’s itemizing plans have been on the backburner amid a SEBI probe in opposition to the change and a few of its high officers.
During the fourth quarter ended March 2024, NSE reported a 20% year-on-year improve in consolidated web revenue at ₹2,488 crore. Further, the consolidated working revenues stood at ₹4,625 crore for the January-March quarter of the monetary 12 months 2023-24, marking a surge of 34% year-on-year.
Apart from trading, the whole income was additionally supported by different income strains, together with itemizing, index providers, information providers and co-location facility.
