 "NSE, BSE to hold trading session on March 2 to assess mkt infrastructure")
The stock exchanges will be carrying out a special live trading session on Saturday, March 2, with an intraday switch to the disaster recovery site, the National Stock Exchange (NSE) and BSE said in a circular.
In the equity cash and derivative segment, the trading will happen from 9:15 am to 10 am on the primary site and will continue on the disaster recovery site from 11:30 am to 12:30 pm.
The exchanges will have pre-open and post-closing sessions along with the morning block deal window.
The special session is being conducted following discussions with the market regulator Securities and Exchange Board of India (Sebi) and its technical advisory committee.
The session is to assess the preparedness of market infrastructure institutions to handle any unforeseen event which could impact the operations. It will test if the operations can be restored from the disaster recovery site within the stipulated recovery time.
“All securities (including those on which derivative products are available) will have a maximum price band of 5 per cent. Securities already in the 2 per cent or lower price band shall continue to be available in the respective bands… No flexing of securities or futures contracts shall be applicable on that day,” said NSE.
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A session to test the disaster recovery site was scheduled for January 20. However, it had to be changed to a full-day normal session from the primary site to allow traders to offset their positions due to a sudden declaration of a market holiday on January 22.
On February 24, 2021, investors and traders had faced a disadvantageous situation due to a technical glitch at NSE. The snag led to a halt of trading in all its segments between 11:40 am and 3:45 pm and was said to be due to issues at its telecom service providers.
Sebi had issued a show-cause to the exchange. The bourse later settled the matter with the market regulator by paying Rs 72.6 crore.
In January last year, the market regulator revised the reporting guidelines for stock exchanges and other Market Infrastructure Institutions (MIIs) during trading outages.