TMI BlogStandard Operating Procedure for handling of Stock Exchange Outage and extension of trading hours thereofX X X X Extracts X X X X X X X X Extracts X X X X ..... r otherwise, continuous trading on stock exchanges is disrupted, it is of paramount importance that not only all market participants including other MIIs, are promptly informed about the outage but also the trading hours are extended, 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 mo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... segments of affected stock exchange, qualifying as outage, trading in other unaffected segments of the affected exchange shall continue and all other unaffected exchanges shall continue to trade in all of their market segments. 8. Affected stock exchange would restore operations to normalcy at the earliest including from the Disaster Recovery Site and carry out various activities, in terms of SEBI Circular dated March 22, 2021 on Business Continuity Planning (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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... losure, in the case of extension of trading hours, no further trading would be allowed on the affected stock exchange for that day and other stock exchanges would continue to operate till the extended time provided at para 11 above to enable smooth closure/settlement of intraday positions. The affected exchange would have to suitably intimate the same to market participants, other MIIs and SEBI latest by 45 minutes post normal scheduled market closure. 13. If the occurrence 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ents of exchange B are operating unaffected. S No Occurrence of outage Event Extension of trading hours 1 In Equity Derivative Segment of exchange A Normalcy in the said segment restored latest by 14:30 No extension of trading hours for exchange A and B 2 In Cash Market of exchange A Start of Pre-opening latest by 14:15 No extension of trading hours for exchange A and B 3 Any time during the trading hours in Cash Market on exchange A Failure to start Pre-opening by 14:15 on exchange ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 19. This circular is available on SEBI website at www.sebi.gov.in under the categories Legal Framework and Circulars . 20. This circular shall come into effect immediately and is without prejudice to the SEBI circulars dated March 22, 2021 and July 05, 2021 to the MIIs on Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs) and Standard Operating Procedure for handling of technical glitches by Market Infrastructure Institutions (MIIs) and payment of Financial Disincentives th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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