NSE extends trade timing for interest rate derivatives to 5 pm; move aimed at converging it with underlying market timings
The latest move is aimed at converging it with underlying market timings, the exchange said in a circular.
The National Stock Exchange has extended the market trade timing for interest rate derivatives to 5 pm, according to a circular issued on Tuesday. The change will come into effect from February 23. At present, the contracts are traded between 9 am and 3:30 pm.
The latest move is aimed at converging it with underlying market timings, the exchange said in a circular.
"Contracts for the expiry month February 2023 will be available for trading till 5 PM on expiry day i.e. February 23, 2023. There shall be no change in trading hours for other interest rate derivative contracts," the exchange said in the circular.
All existing expiry contracts with expiry day beyond February 23 and all new expiration contracts introduced thereafter shall be made available for trading till 5 pm on expiry day. "There shall be no change in CP Code modification/ Give up timings and same will continue till 5:30 PM.
There shall be no change in Final Settlement Price computation mechanism i.e. it will be calculated based on last 2 hours of VWAP of NDS OM trades subject to minimum of 5 trades," the circular added. Interest rate derivative (IRD) is a financial derivative contract whose value is derived from one or more interest rates, prices of interest rate instruments, or interest rate indices.
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