SEBI rejects NSE's proposal to extend trading hours

The National Stock Exchange MD & CEO Ashishkumar Chauhan has said that the capital markets regulator SEBI has rejected its proposal to increase trading hours

No extension in trading time

As per media reports, Chauhan during an analyst call said that SEBI has returned the exchange’s proposal to increase trading time due to a lack of consensus among the broker community. He added that the stock brokers have not given the feedback to SEBI and hence the extended timeframe for trading is shelved as of now.

CNBC-TV18 in February reported that the Association of National Exchange Members of India (ANMI) had given its in-principle approval for the proposal to extend trading hours for index futures. It further said that the Brokers Industry Standards Forum (ISF) will send a formal letter to SEBI in this regard

NSE's proposal

The National Stock Exchange last year had proposed the extension of hours for index F&O trading in a phased manner. NSE had said that it is planning to extend the trading hours for equity derivatives in a phased manner, following representations from various stakeholders.

During the first phase NSE had mulled extending the trading hours between 6 p.m. IST and 9 p.m. IST, in addition to the regular trading hours of 9:15 a.m. to 3:30 p.m. In the second phase Index derivatives trading would be extended till 11:30 PM. Finally, in the third phase, the plan is to extend cash market trading hours until 5 PM.

Also watch: F&O trading hours extension: SEBI Chief seeks investor and broker feedback before deciding