NSE shifts Bank Nifty F&O expiry from Thu to Friday
First Friday expiry will be on July 14, 2023
image for illustrative purpose
Hyderabad National Stock Exchange (NSE) has announced that it changed F&O contract expiry for Bank Nifty. The new expiry day for Bank Nifty will be Friday instead of current Thursday. The expiry day for Bank Nifty is effective from Friday July 7, 2023, and all existing contracts with Thursday expiry will be revised to Friday on July 6, 2023, said NSE in its circular. Hence, the first Friday expiry will be on July 14, 2023.
The latest decision of NSE on new expiry cycle is considered to be a strategy to counter rival BSE, which recently introduced weekly futures and options on Sensex expiring every Friday. Thus, all weekly Bank Nifty contracts will now expire on every Friday instead of Thursday. Similarly, all monthly and quarterly Bank Nifty contracts will also shift expiry to last Friday of the month. If Friday is holiday then previous day will be expiry day.
Apart from Bank Nifty, other F&O contracts will continue in the current settlement cycle, said NSE.
After trading session July 6 (Thu), 2023, the expiry date and maturity date for all existing F&O will be revised or postponed to Friday as pe rthe expiry dates.
If the expiry/maturity date of existing contract maturing on July 13 (Thu), 2023, will be postponed to July 14 (Fri), 2023.
If the expiry/maturity date of existing contract maturing on the last Thursday of the month i:e August 31, 2023, will be advanced to August 25 (Fri), 2023, of the respective current expiry month.
NSE has asked members to note that there is no other change in the existing contracts specifications of Bank Nifty. The settlement schedule shall be intimated separately by Clearing Corporations.
Counteract
- l If the expiry/maturity date of existing contract maturing on July 13 (Thu), 2023, will be postponed to July 14 (Fri), 2023
- l If the expiry is on the last Thursday of the month i.e., Aug 31, 2023, will be advanced to Aug 25 (Fri), 2023
