Brokers Body Approves Proposal To Extend Derivatives Trading Hours
The decision to extend the trading hours of derivatives was unanimously approved in a board meeting, said ANMI president Vijay Mehta.
Brokers have agreed to extend the trading hours of the derivates section of exchanges, according to a senior person from a trading members body.
The decision to extend the trading hours of derivatives was unanimously approved in a board meeting, Vijay Mehta, president of the Association of National Exchanges Members of India, told NDTV Profit.
"There are many issues related to the price settlement that need to be sorted out," Mehta said.
As per the process set up by the market regulator, the Brokers' Industry Standards Forum, a collective body of all broker associations, will now send recommendations to the Securities and Exchange Board of India, requesting extensions of trading hours for index derivatives. The industry standards forum comprises ANMI, the Commodity Participants Association of India, and the BSE Brokers Forum.
"Our job was to consult the brokers; SEBI has to take a final call on the extension of trading hours," said Mehta.
In September last year, the National Stock Exchange sought SEBI's approval to hold evening trading sessions in the equity derivatives segment. The exchange has proposed index futures and options trading to continue between 6:00 p.m. and 9:00 p.m.
These recommendations will be vetted by the market regulator, and a discussion paper will be issued to seek wider feedback before it is taken to the SEBI board for approval.
