Sebi to roll out closing auction session framework after reviewing 3,500 comments

Market regulator Sebi will soon issue a framework on proposed changes to the Closing Auction Session (CAS) mechanism after receiving more than 3,500 comments on its consultation paper, its Chairman Tuhin Kanta Pandey said on Saturday. The Securities and Exchange Board of India (Sebi) had sought public comments on its proposal to review certain aspects of the CAS, market timings and the settlement methodology for derivative contracts. The deadline for submitting comments is October 3. Asked when the final framework or circular on CAS can be expected, Pandey said the regulator would quickly examine the responses and move ahead with the process. "Today is the last date, and we will actually quickly look at all these comments and go ahead, because I think our proposals are quite clear," Pandey said at an event organised by CPAI (Commodity & Capital Market Participants Association of India).