Revision in Trading Hours - Interest Rate Derivatives

Revision in Trading Hours - Interest Rate Derivatives

The NSE issued a circular (28/2020) dated November 4, 2020 regarding the revision in trading hours in the context of interest rate derivatives. This was in reference to a press release (2020-2021/577) that the RBI delivered on November 2, 2020 about the increase in market timings for various markets including rupee interest rate derivatives.

To align with underlying market timings, the NSE’s circular outlined the following changes in trading hours of Interest Rate Derivative contracts:

1. Contracts for the expiry month November 2020 will be available for trading till 03:30 PM only on the expiry day (which is November 26, 2020). This is only applicable for November 2020 expiry. There will be no changes in the trading hours for other interest rate derivative contracts.

2. New contracts with expiry in subsequent months shall be made available from November 27, 2020 onward. 

3. There will be no changes in the CP Code modification or Give up timings, which will continue till 05:30 PM. 

4. There will also not be any changes in the mechanism used to compute the Final Settlement Price.

These changes are to continue to remain in force until further notice from the exchange.


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