CAS here to stay, but open to review for improvement: SEBI
SEBI chairman Tuhin Kanta Pandey confirmed that the new Closing Auction Session (CAS) mechanism for stock market closing prices is permanent despite some industry pushback. The regulator is open to feedback and potential improvements to address teething issues and legacy system constraints.
Why it matters
This change represents a significant microstructure shift in Indian equity markets, impacting how institutional and retail investors execute end-of-day trades.
The new Closing Auction Session (CAS) mechanism for determining closing prices is “here to stay”, even as the market regulator Securities Exchange Board of India (SEBI) remains open to stakeholder feedback and possible tweaks to address any issues and for improvement.
“CAS is here to stay for sure. We will see if there are certain constraints or certain issues that we can improve,” SEBI chairman Tuhin Kanta Pandey said, while speaking, on the sidelines of the launch of cyber reporting platforms at the NISM campus at Navi Mumbai.
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