SEBI Revises Closing Auction Timings and Derivatives Settlement Rules
India’s securities regulator revised the equity cash market closing auction framework, including session timings, unexecuted-order treatment and settlement-price methodology for stock and index derivatives. The changes take effect December 7.
The Securities and Exchange Board of India (SEBI) has revised the framework for the closing auction session (CAS) in the equity cash market, changing session timings, the treatment of unexecuted orders and the methodology used to calculate settlement prices for stock and index derivatives.Under the…