The SEBI modifies standard operating procedures
SEBI: On Monday, SEBI modifies standard operating procedures for handling stock exchange outages. Extension of time whenever technical impediments strike the overall trading system.
Now, an outage would be a stoppage of continuous trading. It will either be at its own initiative by the exchange or by reasons beyond its control. Further, stoppage of continuous trading shall not include a trading halt on account of the index-based market-wide circuit breaker.
SEBI: Currently, trading is allowed from 9.15 am till 3.30 pm. In case of trading on the affected exchange does not resume normalcy even one hour before the scheduled market closure, trading hours for all stock exchanges would automatically get extended for additional one-and-a-half hours for that day.
Subsequent to the communication from the affected stock exchange, the unaffected stock exchanges would also suitably issue a notice with regard to the extension of trading hours on their stock exchanges.
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The stock exchange has been mandated to inform market participants of a trading outage within 15 minutes of the occurrence of an outage through publication on its official website and broadcast.
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