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Standard Operating Procedure for handling of Stock Exchange Outage and extension of trading hours thereof - SEBI - SEBI/HO/MRD-TPD-1/CIR/P/2023/7

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..... xtended, if required, so as to provide opportunity for smooth closure of intraday positions. 3. With a view to ensure that any outage at stock exchange(s) is handled in a harmonized and consistent manner, the matter was discussed with the MIIs and Standard Operating Procedure with regard to handling of such stock exchange outage in Cash Market and Equity Derivatives segment is detailed below. Definition of Stock Exchange Outage 4. Stock Exchange Outage shall mean stoppage of continuous trading, either suo moto by exchange or by virtue of reasons beyond control of stock exchange. Further, stoppage of continuous trading shall not include trading halt on account of index based market-wide circuit breaker. Reporting Requirements for outage 5. T .....

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Standard Operating Procedure for handling of Stock Exchange Outage and extension of trading hours thereof - SEBI

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..... BCP) and Disaster Recovery (DR) and SEBI circular dated July 05, 2021 on Standard Operating Procedure for handling of technical glitches by Market Infrastructure Institutions (MIIs) and payment of “Financial Disincentives” thereof, as applicable. 9. A pre-opening session similar to normal pre-opening session would be conducted for effective price discovery, before resumption of trading. Further, there shall be an advance intimation of at least 15 minutes to various market participants with regard to resumption of trading or start of pre-opening session, as applicable. Extension of trading hours in case of outage 10. If the trading on the affected stock exchange resumes to normalcy at least one hour (excluding 15 minutes of pre-o .....

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Standard Operating Procedure for handling of Stock Exchange Outage and extension of trading hours thereof - SEBI

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..... rrence of outage as mentioned in para 4 above, happens during the last trading hour of normal operation and latest before 15 minutes of normal scheduled market closure, trading hours for all stock exchanges would automatically get extended by one and half hours for that day and the same would be intimated by the affected stock exchange to market participants, other MIIs and SEBI immediately but not later than 10 minutes from the occurrence of outage. Subsequent to the communication from the affected stock exchange, the unaffected stock exchanges would also suitably issue a notice with regard to extension of trading hours on their stock exchanges. 14. Exchanges to put in place a common close out policy, within 30 days of this circular, to en .....

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Standard Operating Procedure for handling of Stock Exchange Outage and extension of trading hours thereof - SEBI

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..... exchange A Trading hours in Cash Market and Equity Derivative Segment of exchange A and B extended till 17:00 and announcement in this regard to be made latest by 14:15 by the affected stock exchange. Note that such announcement is to be made on the basis of assessment by stock exchange on the likely resumption of normalcy Failure to start Preopening by 16:00 on exchange A No trading permitted in Cash Market on exchange A for the day. Equity Derivative Segment on exchange A and Cash Market and Equity Derivative Segment on exchange B would continue to trade till 17:00. The affected stock exchange to announce latest by 16:15 4 At 15:05 on exchange A in Cash Market Trading hours in Cash Market and Equity Derivative Segment of exchange A and B .....

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Standard Operating Procedure for handling of Stock Exchange Outage and extension of trading hours thereof - SEBI

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