homeeconomy NewsExchange will extend futures and options timings as per Sebi mandate, says NSE chief
Exchange will extend futures and options timings as per Sebi mandate, says NSE chief
NSE CEO Vikram Limaye said the exchange would extend the timings for its futures and options unit from October as per Sebi's mandate, and added the NSE was also exploring liquidity transition from Singapore SGX to Gift City to stop the arbitration and resolve the row on nifty futures.
Co-location and IPO:
Speaking about co-location, Limaye said it was an issue on which the NSE has been in discussion with SEBI. The NSE has concluded its internal investigations and would will see how it can resume the conversation to resolve the issue.
"The timing of the IPO is obviously linked to the colocation issue I can’t give you any visibility on this as it will depend on the progress of the colocation issue," he added speaking about the IPO issue.
Commodities contracts and merger:
"We are ready to launch commodities contracts from October 1, we will obviously require an official approval from Sebi before launching the contracts but we are geared up for that and we will start with non agri products particularly in the bullion energy and metal space," Limaye said speaking about commodities contracts.
Extended Trading Hours:
The NSE is gearing up for extended trading hours from October 1 and the extension would only be for derivatives, Limaye said. Trading would continue till 11:15 PM from the set date.
"Right now the cash market will close at 3.30 as it does and then the next session starts, so what we have said is we will give a break and then start from 5 PM onward," he said.
SGX Issue:
"We are hopeful that we will be able to come up with a structure that actually works for the market participants and the regulators . The idea is to try and figure out an orderly transition of liquidity from Singapore to Gift City," Limaye said.
"The philosophy behind what the exchanges did at the outset in February was because fragmenting and exporting liquidity is not in the long term interest of the Indian markets, the idea is to consolidate liquidity in the Gift City and its in that regards that we have been discussion with SGX and the regulators both in Singapore and SEBI, to see if we can come up with a framework that works for everyone , the markets, the regulators," he added.
First Published: Aug 8, 2018 4:10 PM IST
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