Sebi to soon issue framework on Closing Auction Session; receives over 3,500 comments
The Securities and Exchange Board of India (Sebi) plans to release a new framework for the Closing Auction Session (CAS) following a public consultation process. Chairman Tuhin Kanta Pandey stated that the regulator will quickly analyze over 3,500 comments to finalize the rules for market timings and derivative settlement.
Why it matters
Changes to the closing auction mechanism directly impact market liquidity and price discovery for investors in the Indian stock market.
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.
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