The National Stock Exchange (NSE) said in a circular on Tuesday that it will conduct a special live trading session on May 18, 2024 (Saturday) to assess strategies for dealing with unexpected disasters.
“Members are requested to note that Exchange shall be conducting a special live trading session with intra-day switch over from Primary site to Disaster Recovery site on Saturday, May 18, 2024, in Equity and Equity Derivatives segments,” NSE said.
The special live trading session will involve an intra-day switch from the Primary Site (PR) to the Disaster Recovery (DR) site.
In this special session, there will be two different sessions.
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The first session would start at 9:15 a.m. and run till 10 a.m. During this session, trading will take place from the main website.
In the second session, trading would take place between 11:45 a.m. to 1 p.m. from the disaster recovery site.
A 5% maximum price band will apply to all securities during the special session, including those that contain derivative products. Securities that are already priced at 2% or below will remain accessible in their respective bands.
The circular also stated that all close-ended mutual funds will be subject to price bands of 5%.
Every futures contract will have a 5% daily operating range.
Additionally, on that day, there would be no flexing of securities or futures contracts.
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The National Stock Exchange is conducting the special trading sessions on Saturday to check if they are prepared to handle any unexpected event that might affect their operations.
The NSE wants to make sure that it can quickly restore operations from the Disaster Recovery site if required. These sessions are being conducted based on discussions with the market regulator SEBI and its technical advisory committee.
The main purpose of moving to the DR site is usually to ensure business continuity in the event of a significant interruption or failure of the primary site.
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Disclaimer: The above content is for informational purposes only. The 1% News recommends consulting a SEBI-registered investment advisor before making any investment decision.
