NSE, BSE To Hold Special Trading Session On Jan. 20 For Disaster Recovery Site Switchover
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 Jan. 20, as per an NSE circular.
The national bourses will conduct two special live trading sessions on Jan. 20 as part of plans to switch over to a disaster recovery site.
This 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.
Capital Market Segment
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 Jan. 20, according to an 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.
Futures And Options Segment
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.
Changes In Price Bands For Special Session
All securities will have a maximum price band of 5%.
Securities already in the 2% or lower price band shall continue to be available in the respective bands.
Price bands of 5% will be applicable to all closed-ended mutual funds.
All futures contracts shall have a daily operating range of 5%.
The price band for equity segments 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 option contracts due to market factors up to the close time at the primary site will be carried forward to the disaster recovery site.
What Is 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.
