Brokers Body Approves Proposal To Extend Derivatives Trading Hours
Brokers have agreed to extend the trading hours of derivates section of exchanges, senior member of a trading members body said on Wednesday
The decision to extend the trading hours of derivatives was unanimously approved in a board meeting, Vijay Mehta, president of Association Of National Exchanges Members Of India told NDTV Profit.
“There are many issues related to the price settlement which need to be sorted out,” Mehta said.
As per the process set up by the market regulator, Brokers’; Industry Standards Forum. a collective body of all broker associations, will now send recommendations to Securities and Exchange Board of India, requesting extension of trading hours for index derivatives. The Industry standards forum comprises of ANMI, Commodity Participants Association of India and 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 had 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.
