The National Stock Exchange as well as Bombay Stock Exchange have decided to conduct a special live trading session in the equity and futures & options segments, on March 2, 2024, to check the preparedness of disaster recovery system of the market in case of an emergency. Generally, the market remains shut on Saturdays.
As per the schedule, the market will remain open for couple of hours for trading with 75-minute break in between. The session will be divided into two phases for the transition from the primary site to disaster recovery site.
The first session will start at the regular time with eight minutes of pre-open session i.e. 9:00 to 9:08 am, followed by regular trading for 45 minutes between 9:15 am and 10:00 am.
This first trading session will be conducted from the primary site or the official BSE and NSE websites, while the second session will be taking place from the disaster recovery (DR) site after the transition from the primary site, in the equity and equity derivatives segments.
After the first session, the market will be closed for 75 minutes. The second trading phase of the day will start with a pre-open session between 11:15 am to 11:23 am, followed by normal trading for an hour between 11:30 am to 12:30 pm.
Further, apart from pre-open, the exchanges will also have post-closing sessions along with the morning block deal window. The morning block deal window will take place for 15 minutes between 08:45 to 9:00 am.
The special trading session is being held to evaluate the readiness of Market Infrastructure Institutions (MIIs) in handling unforeseen events such as system outages affecting their operations. It aims to assess their ability to restore operations from the disaster recovery site, aligning with SEBI's framework for business continuity.
During the session, all the securities including the Future and Options (F&O) segment will have upper and lower circuit limits of five percent, while those with a two percent limit will maintain their existing circuit limit, to prevent extreme volatility during the special live trading session.
The exchange further said the price bands of 5 percent will be applicable on all close ended mutual funds, and all futures contracts will have daily operating range of 5 percent.
Due to March 2 being a settlement holiday, purchases made on March 1 will be settled on March 4.
"On account of trading on March 2, the pay in/pay out transactions for the trade date March 1, and March 2, shall be settled on March 4, 2024, at 8:30
am," the exchange said.
Meanwhile, as usual, the currency and commodity markets will remain shut on Saturday, March 2.
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