Why BSE and NSE held special live trading sessions on Saturday | News explained

National Stock Marketswere open today (a Saturday), as the BSE and NSE held special live trading sessions to check their preparedness to handle any issues or disruptions. The sessions were conducted under the Securities and Exchange Board of Indias (SEBI) for Business Continuity Plan (BCP) and Disaster Recovery Site (DRS) of Market Infrastructure Institutions (MII).

Why the special live sales session?

In March 2019, market regulator SEBI established a framework for exchanges, clearing companies and custodians (collectively known as MIIs) to implement BCPs and DRS to maintain the integrity of data and transactions.

Stock exchanges from time to time assess their preparedness to face major disruptions and organize special trading sessions for this. They perform an intraday failover from the primary site (PS) to the DRS.

Trading members are requested to note that the Exchange will hold a special live trading session with intraday switchover from the main site (PR) to the disaster recovery site (DR) on Saturday, May 18, 2024, in the equity and equity derivatives segments , BSE. said in a circular.

BSE and NSE conducted similar live trading sessions on March 2, 2024.

What are the times for special negotiation sessions?

In the capital market segment, exchanges held special two-part trading sessions.

Regarding live exchanges from the PS, the pre-opening session took place from 9:00 a.m. to 9:08 a.m. Normal market hours were 9:15 a.m. to 10:00 a.m.

As for live trading from the DR site, the pre-opening session took place from 11:15 a.m. to 11:23 a.m. Normal market timings were from 11:30 a.m. to 12:30 p.m.

In the Futures & Options segment, normal market hours on the PS were from 9:15 a.m. to 10:00 a.m. Normal market hours at the DR site were 11:30 a.m. to 12:30 p.m., as per an NSE circular.

What are the applicable price bands for special trading sessions?

For the special live trading session, all securities (including those on which derivatives are available) had a maximum price spread of 5 per cent, the NSE said.

Securities already at 2% or in a lower price range continued to be available in the respective tranches. Price bands of 5 percent were applicable to all closed-end mutual funds, and all futures contracts had a daily operating band of 5 percent.

What is a disaster recovery site?

A disaster recovery site (DRS) is a place where an exchange, in the event of disruptions, can temporarily relocate its operations. Moving to DRS ensures continuity of business operations and also helps in maintaining the integrity of data and transactions.

As per the SEBI framework, the DRS should preferably be installed in different seismic zones and in case, due to certain reasons like operational constraints, change of seismic zones etc., a minimum distance of 500 kilometers should be ensured between the primary data center. (PDC) and DRS, so that DRS and PDC are not affected by the same disaster.

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