Stock Market : BSE, NSE to open for trade tomorrow

Special live trading session, a critical test of our readiness and resilience, will be undertaken on May 18, 2024.
Stock Market : BSE, NSE to open for trade tomorrow

Stock Market Updates: This week, the Indian stock market is preparing for a major event. The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have announced that a special live trading session, a critical test of our readiness and resilience, will take place on May 18, 2024. This special BSE NSE session will include an intra-day changeover from the Primary site to the Disaster Recovery site for the equity and equity derivative sectors. The special live trading event, which will showcase our combined preparation, will be divided into two halves. The first session will take place from 9:15 AM to 10:00 AM, followed by the second from 11:30 AM to 12:30 PM.

The Bombay Stock Exchange (BSE) announced the special live trading session, saying, "Trading members are requested to note that the Exchange shall be conducting a special live trading session with the intraday switchover from Primary Site (PR) to Disaster Recovery Site (DR) on Saturday, May 18, 2024, in Equity and Equity Derivatives Segments." This special live trading session on the BSE and NSE seeks to assess participants' preparedness to handle substantial disruptions or breakdowns at the primary site and ensure adequate contingency plans are in place. During the special live trading session, an intra-day shift from the Primary Site (PR) to the Disaster Recovery (DR) site will occur. This transfer, which demonstrates our strong contingency plans, is an important safety net for all critical institutions such as exchanges. It maintains operational continuity in the event of an unforeseen incident affecting Mumbai's primary trading center, allowing for seamless and uninterrupted operations.

"All securities (including those for which derivative products are available) will have a maximum price band of 5%. Securities that are already in the 2% or lower price band will remain in those bands," the BSE notice said, adding, "The price band for equity segment and futures contracts that will be effective at the start of the day at the PR site will also be applicable at the DR site. As a result, the same price range will serve as the reference for a pre-open session in the equities section at the DR site."

Rest assured that the BSE is strictly adhering to SEBI laws while conducting this unique live trading session. According to SEBI rules, this step is being taken based on specific discussions with SEBI and their Technical Advisory Committee to assess MIIs' preparedness to handle any unforeseen event impacting their operations and restore operations from the DR Site within the specified Recovery Time Objective in such an event.

logo
NewsCrunch
news-crunch.com