NSE, BSE To Hold Special Session On March 2 For Disaster Recovery Site Switchover

After the initial plans for a special session were put on hold, the national bourses will conduct two special live trading sessions on March 2, in a bid to switch over to a disaster recovery site.

The decision aligns with the Securities and Exchange Board of India's framework for a business continuity plan and disaster recovery site for stock exchanges, to strengthen the existing cybersecurity and cyber resilience framework.

Earlier, both the National Stock Exchange and the Bombay Stock Exchange scheduled this special session on Jan. 20. This was then converted into a normal trading session as a market holiday was announced on Jan. 22 on account of consecration of the Ram Mandir.  

The market will open at its primary site for its first session at 9:15 a.m., with the block deal window opening at 8:45 a.m. on March 2, according to a NSE circular. The first trading session is scheduled to end at 10 a.m.

The second trading session is proposed to be held on the DR site and will begin at 11:30 a.m., with the pre-market open at 11:15 a.m. This special session will end at 1 p.m.

The trading session in the F&O segment will begin at 9:15 a.m. and will end at 10 a.m. from the primary site.

Trading will later switch to the DR site, which will begin at 11:30 a.m. and close at 12:30 p.m.

• All securities will have a maximum price band of 5%.

• Securities already in 2% or lower price band, shall continue to be available in the respective bands.

• Price bands of 5% will be applicable on all close-ended mutual funds.

• All futures contracts shall have daily operating range of 5%.

• No flexing of securities or futures contracts shall be applicable on that day.

• The price band for equity segment and futures contracts, which will be applicable at the start of the day at DC shall be applicable at DR.

• Any changes in price bands of options contracts due to market factors up to the close time at primary site would be carried forward to disaster recovery site.

In case of any emergency, like a security breach, market operations can be temporarily relocated to a disaster recovery site to ensure the continuity of normal operations.

SEBI, in its circular on March 22, 2021, prescribed a framework for business continuity plans and disaster recovery sites for stock exchanges, depositories and clearing corporations.

With advancements in technology and improved automation of processes, it was felt that the extant framework needed to be re-examined, with a view to reducing the time period specified for moving from the primary data centre to DRS, SEBI said earlier.