“Discover the unprecedented move by major stock exchanges as the Stock Exchange Opens Tomorrow for a special live trading session to test their disaster recovery systems. With markets in uncharted territory, find out if they’re ready for the unexpected!”
Indian Stock Exchange Opens Tomorrow To Conduct Special Trading Session
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have announced a special live trading session in the equity and futures & options segments on March 2, 2024. This session aims to test the readiness of the market’s disaster recovery system in case of emergencies. Typically, the market is closed on Saturdays, but this special session will be an exception and the stock exchange opens tomorrow.
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Session Details
The trading session will last for a couple of hours with a 75-minute break in between. It will be divided into two phases to facilitate the transition from the primary site to the disaster recovery site.
- First Session: The session will begin at the regular time with an eight-minute pre-open session from 9:00 am to 9:08 am, followed by regular trading from 9:15 am to 10:00 am. This session will take place from the primary site or the official websites of BSE and NSE.
- Second Session: After the break, the second session will commence from the disaster recovery (DR) site. It will start with a pre-open session from 11:15 am to 11:23 am, followed by normal trading from 11:30 am to 12:30 pm in the equity and equity derivatives segments.
Apart from the main trading sessions, the exchanges will also have post-closing sessions and a morning block deal window. The morning block deal window will operate for 15 minutes between 8:45 am to 9:00 am.
Purpose of the Special Session
The special trading session aims to evaluate the preparedness of Market Infrastructure Institutions (MIIs) to handle unforeseen events, such as system outages. It seeks to assess their ability to restore operations from the disaster recovery site, aligning with SEBI’s framework for business continuity.
The stock exchange opens tomorrow and during the special session, all securities, including those in the Future and Options (F&O) segment, will have upper and lower circuit limits of five percent. Securities with a two percent limit will maintain their existing circuit limit to prevent extreme volatility.
Since March 2 is a settlement holiday, purchases made on March 1 will be settled on March 4. Pay-in/pay-out transactions for the trade dates March 1 and March 2 will be settled on March 4, 2024, at 8:30 am.
While the equity markets will be operational on March 2, the currency and commodity markets will remain closed as usual.
Bhaarat Bulletin’s Shikha Rai, Bimal Dev, and BSE/NSE have contributed to the above report
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