NSE and BSE with regard to change in Bank Nifty Expiry Day
by Prashant Kapadia/NHN
Mumbai, June 27, 2023: The National Stock Exchange of India Limited (NSE) vide Circular Ref. No: 88/2023, dated June 06, 2023, moved the expiry day for Nifty Bank Future & Options (F&O) contracts to Friday from Thursday, effective from trade date July 7, 2023, with all existing contracts with Thursday expiry will be revised to Friday on July 6 by the end of day. The first Friday expiry will be on July 14.
The proposed Friday expiry of Bank Nifty coincides with the expiry of the Sensex/ Bankex F&O contracts that were relaunched by BSE with effect from May 15, 2023. BSE, based on market feedback feels that this can potentially impact the growth of Sensex/Bankex derivatives. Considering the need for balanced market development and avoidance of concentration risk in the market, BSE has requested NSE to consider shifting of the Bank Nifty expiry to any day other than Friday. This will help in growing this complementing Sensex/Bankex derivatives and thus de-risk the market.
Based on this, NSE, in the interest of market development has decided to withdraw the Circular Ref. No: 88/2023 with immediate effect. Members are hereby advised to note the following revision. Any further change will be duly notified by NSE.
BSE will continue to strive hard in its endeavour to continue and provide innovative and complimentary products to the market.
About BSE:BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
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