Stock Market News: BSE, NSE are open for trade tomorrow. This is the reason

Stock Market News: This week, the Indian stock market is gearing up for a significant event. As announced by the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), a special live trading session, a crucial test of our readiness and resilience, will be conducted on 18th May 2024. This special BSE NSE session will feature an intra-day switch from the Primary site to the Disaster Recovery site across equity and equity derivative segments. The special live trading session, a testament to our collective preparedness, will take place in two parts. The first session will occur from 9:15 AM to 10:00 AM, while the second will occur from 11:30 AM to 12:30 PM.

The Bombay Stock Exchange (BSE) announced the special live trading session, saying, “Trading members are requested to note that Exchange shall be conducting a special live trading session with the intraday switchover from Primary Site (PR) to Disaster Recovery Site (DR) on Saturday, May 18, 2024, in Equity and Equity Derivatives Segments.”

The objective of special live trading session

This special live trading session on BSE and NSE aims to assess participants’ readiness to manage significant disruptions or failures at the primary site and ensure robust contingency measures are in place.

During the special live trading session, there will be an intra-day transition from the Primary Site (PR) to the Disaster Recovery (DR) site. This transition, a testament to our robust contingency measures, is a crucial safety net for all vital institutions such as exchanges. It ensures operational continuity in any unforeseen circumstances impacting the main trading centre in Mumbai, facilitating seamless and uninterrupted operations.

Important note for trading members

“All securities (including those on which derivative products are available) will have a maximum price band of 5%. Securities already in 2% or lower price band shall continue to be available in the respective bands,” the BSE notice said, adding, “The price band for equity segment and futures contracts which will be applicable at the start of the day at PR site, shall be applicable at DR site too. Accordingly, the same shall be the reference price range for a pre-open session in the equity segment at the DR site.”

Rest assured, the BSE is conducting this special live trading session in strict adherence to SEBI rules. This step, as per the SEBI rules, is being conducted based on specific discussions with SEBI and their Technical Advisory Committee to assess the preparedness of MIIs to handle any unforeseen event impacting their operations and to restore operations from DR Site within the stipulated Recovery Time Objective in such event.

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Published: 17 May 2024, 02:22 PM IST

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