2 weeks ago
SEBI Chief Says Closing Auction Session Stays, Changes Possible
There is a group in India called SEBI that watches over the stock market.
SEBI recently started a new way of ending the trading day called the Closing Auction Session.
Some people who buy and sell stocks say this new system is hard to use.
They complained about it, including on social media.
The leader of SEBI, Tuhin Kanta Pandey, heard these complaints.
He said SEBI will not remove the Closing Auction Session.
Instead, SEBI will look at the problems people mentioned.
The regulator may make changes to the system later.
So the session is here to stay for now, but it might work differently in the future.
SEBI Chairman Tuhin Kanta Pandey said the regulator does not intend to withdraw the Closing Auction Session (CAS).
The new CAS framework came into effect on August 3.
SEBI is evaluating concerns raised by brokers, traders and other market participants.
Market participants have stressed difficulties with the new system.
Some criticism of the session has also spread on social media.
- Who
- SEBI Chairman Tuhin Kanta Pandey and market participants including brokers and traders
- What
- SEBI will keep the Closing Auction Session but may make changes after evaluating concerns
- Where
- India's securities market
- When
- The framework came into effect on August 3; the statement was made recently
- Why
- To address difficulties raised by brokers, traders and other market participants while keeping the session in place
SEBI (Regulator)
Market Participants (Brokers and Traders)
Future of the Closing Auction Session
SEBI (Regulator)
SEBI does not intend to withdraw the Closing Auction Session.
Market Participants (Brokers and Traders)
Brokers, traders and other participants have stressed difficulties with the system.
Response to Concerns
SEBI (Regulator)
SEBI is evaluating the concerns and says changes could follow.
Market Participants (Brokers and Traders)
Participants have voiced criticism, including on social media, over the new framework.
Key facts
- Regulator
- Securities and Exchange Board of India (SEBI)
- SEBI Chairman
- Tuhin Kanta Pandey
- Policy
- Closing Auction Session (CAS)
- Effective Date
- August 3
- Status
- To remain in place; changes could follow
- Concerns Raised By
- Brokers, traders and other market participants
- Criticism Channel
- Social media and market debate
Sources
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