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The National Stock Exchange of India has extended the market trading hours for interest rate derivatives till 5 pm. This change will be applicable from 23 February. Currently the trading window is of six hours and 30 minutes, which opens from 9 am to 3:30 pm.
Currently, the trading of contracts takes place between 9 am to 3:30 pm. The move by NSE is aimed at convergence with the underlying market timings stated by the exchange in a circular.
NSE said that interest rate derivatives contracts with February expiry will now be available for trading from 5 pm on February 23. Apart from this, the trading time of any other interest rate derivatives contract has not been extended. That is, all existing contracts expiring after February 23, 2023 and all new contracts introduced thereafter will also be available for trading till 5 pm on the day of expiry.
According to the report, there will be no change in the calculation system of the final settlement price. The calculation will be done on the basis of Volume Weighted Average Price or VWAP of NDMS OM trends of last two hours. This requires at least five trades.
