Special Live Trading Session at NSE & BSE on 18th May, 2024

On 18th May (Saturday) , NSE and BSE have planned for a special live trading session with intraday switching over from primary site to Disaster Recovery site (DR site or DRS).

This Special Live Trading Session will be held for equity and equity derivatives segments on 18th May,2024 (Saturday).

Reason for Special Live Trading Session

This session is conducted by NSE and BSE separately, in reference to SEBI’s circulars on framework for Business Continuity Plan (BCP) and DR site for the stock exchanges and depositories. 

This session is conducted to test the stock exchange and depositories readiness to face any crisis. The NSE and BSE through its separate circulars have announced its members regarding this special live trading session .

Timings for Special Live Trading Session

Trading Session -1 (Primary Site) Timings

Trading Session -2 (Disaster Recovery Site) Timings

Note : Kindly note that the T0 session is not scheduled for trading on 18-May-2024 due to the settlement holiday.

Price Band/ Daily Operating Range Change

• All securities, including those with derivative products, will adhere to a maximum price band of 5%. Securities currently in a 2% or lower price band will retain their respective bands.

• Close-ended Mutual Funds will be subject to a price band of 5%.

• Daily operating ranges for all futures contracts will be set at 5%.

• No flexing of securities or futures contracts will be permitted on that day.

• The price bands for the Equity segment and Futures contracts established at the start of the day at the Data Center (DC) will also apply at the Disaster Recovery (DR) site.

• Any changes in price bands of options contracts due to market factors up to the closing time at the Primary site will be carried over to the Disaster Recovery site.

• The aforementioned adjustments will only be in effect for the Special Session. Securities and Futures contracts will return to their regular price band structure, DPR% (Dynamic Price Range), dummy bands, and flexing mechanism starting from the next trade date.

Key Points to Keep in Mind:

• Unexecuted orders by the first session's end will be canceled.

• Currency and Commodity markets will be closed.

• Intraday orders are blocked for both sessions.

• Market orders in all segments will be blocked for the initial two minutes of each session.

• BTST orders for T2T stocks are not allowed.

• GTT orders will not be triggered.

• AMO market orders are not permitted.

• AMO orders placed after markets close on May 17, 2024, will be executed on May 18, 2024.

• SIP orders on Kite won't be executed during the special session.

• Profits from trades on May 17, 2024, can be withdrawn by May 21, 2024.

• The CDSL system for authorizing stocks and mutual funds via eDIS won't be available from 10 am to 11:15 am.

• Support lines will be open from 9 am to 2 pm.

• Exchanges are switching to the disaster recovery site during live trading, and there's a possibility of canceled trades during this switch. Closed positions in the first session will be reopened, requiring you to exit them again in the second session.

• Executed trades will have settlement obligations. Risk management, clearing, and settlement details for May 18, 2024, will be communicated by the clearing corporations separately.

• Check the NSE website for updates on the transition to the DR site during the trading session on May 18, 2024.

Note : Intraday trading is restricted during this special session due to anticipated lower trading volumes. This restriction is to avoid potential losses during auto square-offs, as wider spreads could lead to stocks hitting upper/lower circuits, resulting in open positions at the end of the second session, which may not be in the best interest of clients.

Further details can be found in the SEBI Circular.

Conclusion

The Special Live Trading Session at NSE & BSE on May 18, 2024, involves a switch from the primary site to the Disaster Recovery (DR) site. This session, held for the equity and equity derivatives segments, tests the readiness of stock exchanges and depositories to handle crises. Price bands and operating ranges for securities and futures contracts will be adjusted for this session. Certain restrictions and changes apply, including the closure of currency and commodity markets. Detailed settlement obligations and operational timings are specified. Updates will be provided by the respective clearing corporations. Visit the NSE website for more information on the switchover.

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Frequently Asked Questions

What is the purpose of the special live trading session on May 18, 2024?

The special live trading session is being conducted to test the readiness of stock exchanges and depositories in handling crises, as per SEBI's framework for Business Continuity Plan (BCP) and Disaster Recovery (DR) site.

How many trading sessions will be held on May 18, 2024?

There will be two trading sessions on May 18, 2024: one at the primary site from 9:15 am to 10:00 am, and another at the DR site from 11:30 am to 12:30 pm.

What changes will be implemented in terms of price bands and daily operating ranges?

All securities will adhere to a maximum price band of 5%, with securities currently in a 2% or lower price band retaining their respective bands. Close-ended Mutual Funds will have a price band of 5%, and daily operating ranges for all futures contracts will be set at 5%.

What limitations apply to orders during the special live trading session?

During the special live trading session, certain restrictions apply to orders. Intraday orders will be restricted for both sessions, while market orders across all segments will be blocked for the initial two minutes of each session. Moreover, GTT orders will not be triggered, and AMO market orders will not be permitted.

What should I do if my open orders are not executed by the end of the first session?

Any open orders not executed by the end of the first session will be cancelled and will not carry over to the next session.