MUMBAI - The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India have announced the cancellation of their scheduled Saturday market holiday to conduct a critical test of their business continuity plans. This decision was made following discussions with the Securities and Exchange Board of India's (SEBI) Technical Advisory Committee.
The exchanges will engage in a comprehensive testing of their disaster recovery systems by transferring intra-day operations to a backup site. This step is part of a broader mandate by SEBI to ensure robustness and preparedness of financial market infrastructures in the face of potential disruptions.
On Saturday, the BSE and NSE will host two special trading sessions for the equity and equity derivatives segment. The schedule will commence with a pre-open phase at 9 AM UTC, followed by live trading from 9:15 AM to 10 AM UTC. To mitigate risk during this test, stocks will be subject to a maximum price fluctuation limit of up to 5%.
Participants should note that all pending orders will be settled before the start of each session. Moreover, funds, including F&O credits and intra-day profits, will be temporarily locked and unavailable for trading or withdrawal requests throughout the testing period. This measure is to ensure the integrity of the testing process and protect market participants from unforeseen issues that may arise during the transition to the disaster recovery site.
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