Sebi turns down NSE’s bid for extended session
image for illustrative purpose
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 - Ashishkumar Chauhan, MD & CEO, NSE
New Delhi: Capital markets regulator Sebi has rejected a proposal by the National Stock Exchange (NSE) to extend the trading hours in the equity derivatives segment citing a lack of feedback from the stock brokers community.
“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 said in a post-earnings analysts call.
This came after the NSE had urged Sebi to extend trading hours in the equity derivatives segment in a phased manner. This was aimed at potentially curtailing the overnight risk arising from global information flow. Sriram Krishnan, Chief Business Development Officer of NSE, had told PTI in September that the bourse was planning a session from 6 pm to 9 pm after a break from the closure of the regular session from 9:15 am to 3:30 pm. Based on the response, a gradual extension of the market timing till 11:55 pm was proposed on the lines of commodity derivatives.
