The BSE and NSE are taking a proactive stance in response to regulatory directives from SEBI. On 18th of May, they will conduct a special live trading session, strategically designed to check their preparedness for any undue circumstance that might arise in their normal functioning.

In this blog we will cover all the important questions you may have regarding this live session.

What is the purpose of the special live trading session organized by BSE and NSE on 18th May?

The special live trading session is arranged to enhance business continuity and disaster recovery preparedness, as per SEBI’s direction. Market Infrastructure Intermediaries (MIIs) like stock exchanges, clearing corporations, and depositories, will assess their ability to switch over to Disaster Recovery sites during this special live session and find out any vulnerabilities that might arise due to the switching.

What are the timelines of the live trading session?

The normal session will begin with the pre-open session on NSE and BSE at 9:00 AM- 9:15 AM, followed by normal trading at 9:15 AM which shall end at 10:00 AM

Session ITimings
Pre-open session 09:00 AM – 09:08 AM
Normal market session09:15 AM – 10:00 AM

After this, the disaster recovery site’s pre-opening session is scheduled for 11:15 AM-11:30 AM, with normal trading from 11:30 AM to 12:30 PM. You can also place limit orders at market price and market orders during the post market session which begins at 12:40 PM.

Session IITimings
Pre-open session 11:15 AM-11:23 AM
Normal market session11:30 AM – 12:30 PM
Post market session12:40 PM – 12:50 PM

Why is the special live trading session focused on the equity and equity derivatives segments?

The equity and equity derivatives segments form the backbone of financial markets. The special live trading session is tailored for these segments to comprehensively assess disaster recovery capabilities in these critical areas.

Are there any noteworthy aspects or changes during this live trading session?

Yes, here are the noteworthy aspects that you need to keep in mind during these live sessions-

  • The services of Indian Clearing Corporation and NSE Clearing will be temporarily unavailable from 10:00 AM to 2:00 PM on 18th May. 
  • During the session, the upper and lower circuit limits for all securities (including those on which derivative products are available) will be 5%. 
  • Securities already in the 2% or lower price band, shall continue to be available in the respective bands. 
  • Flexible price bands associated with stocks in the F&O segment and futures contracts will not be applicable.

What happens to credits in the F&O segment or intraday profits from 17th May during the live trading session on 18th May?

Any credits in the F&O segment or intraday profits from 17th May will not be available for trading during the live trading session on 18th May, as it is a settlement holiday.

How does the live trading session contribute to business continuity for Market Infrastructure Intermediaries (MIIs)?

The live trading session contributes to business continuity by facilitating an intra-day switch-over to Disaster Recovery sites using the Software as a Service (SaaS) model. This helps MIIs, such as stock exchanges, clearing corporations, and depositories, assess their preparedness for unforeseen events.

Why is the upper and lower circuit limit set at 5% for all securities during this unique live trading session?

The 5% upper and lower circuit limits for all securities, including equity and derivatives, are implemented to ensure stability and manage potential volatility during the live trading session, providing a controlled environment for assessment.

How will the settlement of sale proceeds from Buy Today, Sell Tomorrow (BTST) transactions be affected?

For shares purchased on 17st May: You will not be able to sell shares during the special trading session. You can sell these shares on 21st May which is the next working day. The sale proceeds will be settled as per usual rules of settlement.

For shares purchased on 18th May: You can sell these shares on 21st May which is the next working day. The sale proceeds will be settled as per usual rules of settlement. 

Will all the shares be available for intraday trading on this special trading session on Share.Market?

No, only selected stock scrips will be available for intraday trading on this special trading session. However, you are free to buy or sell all the scrips for delivery. If your intraday order for a particular scrip fails to execute, then it is possible that the particular stock is not available for intraday trading. In case of failure you may see a notification regarding this on your screen.

What will be the timings for auto-squareoff of intraday trades?

Intraday trades will be squared off 15 minutes prior to the end of each of the sessions on Share.Market.

Session NameAuto Squareoff time
Session I9:45 AM
Session II12:15 PM

Can I place an AMO (After Market Order) order during the break between the 2 sessions?

After Market Orders (AMO) cannot be placed during the brief intermission period between the first and second trading sessions. To ensure your desired trade execution during the second session, we recommend submitting your order during the pre-open session beginning at 11:15 AM on 18th May.


Note: 

  • Any AMO orders placed on Friday, 17th May will be sent to the exchanges during the first session of 18th May.
  • All the unexecuted orders from session 1 will be removed from our systems and you shall need to place them again once the second session of the day begins at 11:15 AM.
  • To place AMO trades for Tuesday, 21st May, the orders will be accepted starting at 1:00 PM on 18th May, once the Post-Market Session concludes.
  • E-DIS facility would not be available between 10:00 AM to 11:15 AM on 18th May.