SEBI to propose SOP for unscheduled market holidays
SEBI Chairperson Tuhin Kanta Pandey announced plans to develop a standard operating procedure for unscheduled market holidays to improve financial market resilience. He also noted that approval for the National Stock Exchange's IPO is expected within weeks.
Why it matters
These regulatory updates are critical for maintaining stability and efficiency in India's financial markets.
The Securities and Exchange Board of India (SEBI) is set to propose a standard operating procedure (SOP) for operational activities related to unscheduled market holidays, as part of efforts to strengthen market resilience while improving efficiency and ease of doing business.
“Our endeavour has been to build resilience and strengthen the risk management systems. At the same time, we want to facilitate greater efficiency and ease of doing business. We are also proposing to formulate an SOP for operational activities related to settlement on unscheduled holidays,” SEBI Chairperson Tuhin Kanta Pandey said at an event marking the 30th anniversary of NSE Clearing Ltd. in Mumbai on August 27.
Addressing questions on potential changes to the newly introduced Closing Auction Session (CAS), Pandey said there were currently no plans to modify the system and expressed confidence that participation would increase over time.
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