
National · 14 updates
Mumbai: The Securities and Exchange Board of India (Sebi) has not observed any manipulation in the newly introduced closing auction sessions, chairman Tuhin Kanta Pandey said Wednesday, attributing the recent divergence in two major indices to circumspect trader participation in the first few days of the new system."We are considering all inputs to increase participation," Pandey said on the sidelines of the Global Commodity Conclave in Mumbai. Any new mechanism, like the new process to determine closing prices of securities, needs time to settle and attract more participation, Pandey said.The
Sebi chairman Tuhin Kanta Pandey affirmed the continuation of the Closing Auction Session, emphasizing ongoing evaluations concerning market participants' worries and potential framework enhancements. He pointed out that as more participants engage with the new system, certain challenges may diminish. Furthermore, he observed that reliance on outdated processes inhibits the effective utilization of CAS. Sebi has also received accolades for introducing this pivotal reform in the market.
Mumbai: Securities and Exchange Board of India Chairman Tuhin Kanta Pandey on Monday said the regulator will examine and address issues in the new Closing Auction Session (CAS), while ruling out scrapping the mechanism simply because some market participants want to trade options differently."We are talking to participants about the concerns. We are analysing the issues and will soon come with a view," Pandey said on the sidelines of Sebi's Symposium on Cyber Defence event held in Mumbai. He reiterated that CAS is here to stay and is looking at concerns raised by traders and other market parti
A closing price determined in a short auction window may not represent broader market's consensus.
The Securities and Exchange Board of India (Sebi) is actively exploring modifications to how derivative settlement prices are calculated. Two alternative methods are currently up for review, inviting stakeholder feedback. These revisions aim to alleviate concerns related to the price from the closing auction session. Stakeholders have until October 3rd to share their insights on adopting a blended VWAP or maintaining the status quo with the existing methodology.
SEBI began reviewing the framework in September.