India markets regulator to partly reverse derivative settlement rules after pushback

MUMBAI, Oct 15 (Reuters) — India's markets regulator said on Thursday it will use volume-weighted average prices from the final 30 minutes of regular trading to settle expiring stock and index derivatives contracts, reversing its decision use closing auction prices. The closing auction session, introduced on August 3, will continue to determine the closing prices of applicable cash-equity securities, the Securities and Exchange Board of India (SEBI) said in a circular. The changes, other than provisions on the transition of iceberg orders, will be effective from December 7. Trading in stock derivatives contracts shall continue until 3:45 p.m. on all trading days, including expiry days. (Reporting by Jayshree P Upadhyay; Editing by Joyjeet Das) ((Jayshree.Pyasi@thomsonreuters.com; 9920092491; Reuters Messaging: Twitter: @jaysh88)