5 hrs ago
NSE Revises Pre-Open Session Rules From September 7
The National Stock Exchange is changing how the market opens.
The total pre-open period will still last 15 minutes, from 9:00 AM to 9:15 AM.
During the first five minutes, people can place, change, or cancel market and limit orders.
During the next five minutes, only limit orders will be allowed.
Trades will be matched and confirmed between 9:10 AM and 9:12 AM.
The final three minutes will help the market move into normal trading.
The new rules cover many equity securities, not just large companies or derivatives traders.
NSE says the changes will help coordinate the opening process with a new closing auction system.
NSE will retain the 9:00 AM to 9:15 AM pre-open session timings while dividing order entry into new phases.
From 9:00 AM to 9:05 AM, investors can enter, modify, or cancel limit and market orders.
From 9:05 AM to 9:10 AM, only limit orders can be entered, modified, or cancelled.
Order matching and trade confirmation will occur from 9:10 AM to 9:12 AM, followed by a 9:12 AM to 9:15 AM buffer period.
The changes apply across the equity cash market, including main-board companies, SME shares, partially paid-up shares, InvITs, and REITs.
- Who
- The National Stock Exchange (NSE) is implementing the revised rules for investors and participants in the equity cash market.
- What
- NSE is changing the phases and order rules of its 15-minute pre-open session while retaining the existing overall timing.
- Where
- The changes apply to NSE’s equity cash-market pre-open session, including main-board stocks, SME shares, partially paid-up shares, InvITs, and REITs.
- When
- The revised framework begins Monday, September 7; the article also says the Closing Auction Session was introduced on August 4.
- Why
- The changes are intended to align the opening price-discovery process with the Securities and Exchange Board of India’s Closing Auction Session and improve coordination between cash and derivatives markets.
Key facts
- Pre-open session
- 9:00 AM to 9:15 AM
- Phase 1
- 9:00 AM to 9:05 AM; limit and market orders may be entered, modified, or cancelled.
- Phase 2
- 9:05 AM to 9:10 AM; only limit orders may be entered, modified, or cancelled.
- Order matching
- 9:10 AM to 9:12 AM; opening prices are established and trades are matched and confirmed.
- Buffer period
- 9:12 AM to 9:15 AM, before regular continuous trading begins.
- Covered securities
- Main-board equities, SME shares, partially paid-up shares, InvITs, and REITs.
- Related mechanism
- The changes align with the Closing Auction Session introduced in the equity cash market on August 4.
Sources
Related news
NSE Revises Equity Pre-Open Session Rules From September 7
Sebi Chairman Says Closing Auction Session Here to Stay
SEBI Finds No Manipulation In New Closing Auction System
Sebi Close to Approving NSE IPO After Decade-Long Wait
India’s New Closing Auction Draws Praise and Market Concerns
SEBI's Closing Auction Session Sparks Debate Over Market Readiness
NSE Denies Ashishkumar Chauhan Is in Tata Sons Race
NSE IPO, Iran Strikes and Bond Yields Pressure Indian Stocks
SBI Plans 12,000 Hires, Branch Expansion, NSE Stake Sale
