The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will hold a special live trading session in the equities F&O segment on Saturday, January 20, 2024. Through this unique live session, the BSE and NSE intend to switch to the DR site. On January 20, 2024, both the BSE and the NSE will hold two special live trading sessions. The first session will begin at 9:15 AM and end at 10:00 AM, while the second session will begin at 11:30 AM and end at 12:30 PM. During this special live trading session, all futures contracts will have a 5% operating range.
Zerodha during special session
"As per the SEBI mandate, Market Infrastructure Intermediaries (MIIs) are required to perform a switchover to their Disaster Recovery site as part of the business continuity plan," Zerodha explained, adding, "In this special session, securities will have upper and lower circuit limits of 5%, including stocks traded in the F&O segment." Securities with 2% upper and lower circuit restrictions will retain their 2% limits."
"Normally, F&O stocks and futures contracts have flexible price bands, which means that if the circuit limit is reached, it is relaxed further, allowing trading to continue." This will not apply during this session," Zerodha clarified.
The 20th of January is a settlement holiday. As a result, all credits in the F&O section and intraday gains earned after January 19th will be unavailable for trading throughout the session. In addition, the sale revenues from the January 20 BTST sell transaction will be resolved on Monday, January 22, and the credits will be accessible for trade on Tuesday, January 23.
Date, time, and other details for a special live trading session
The NSE announced the next special live trading session in a circular, "This is in reference to SEBI circular SEBI/HO/MRD/DMS1/CIR/P/2019/43 dated March 26,2019 regarding framework for Business Continuity Plan (BCP) and Disaster Recovery Site (DRS) for stock Exchanges and depositories and Exchange Circular no. NSE/MSD/44692 dated June 18, 2020 regarding unannounced live trading sessions from Disaster Recovery (DR) Site and circular no. NSE/MSD/48662 dated June 18, 2021 regarding important guidelines in case of switchover of trading system to Disaster Recovery (DR) Site."
The primary site will host the first special live session. The morning block deal window session in this session will open at 8:45 AM and close at 9:00 AM. From 9:00 AM to 9:08 AM, a morning block deal window session will be followed by a pre-open session. The regular market will open at 9:15 a.m. and end at 10:00 a.m. The Call Auction Illiquid session will begin at 9:30 a.m. and end at 9:45 a.m.
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The DR site will host a second special live trading session. The pre-open session for this second special live session will begin at 11:15 AM and will end at 11:30 AM. The regular market will open at 11:30 a.m. and close at 12:30 p.m. The Call Auction Illiquid session will begin at 11:45 a.m. and terminate at 12:00 p.m. The Closing Session will begin at 12:40 PM and end at 12:50 PM. At 1:00 PM, trading modification time will come to an end.
