India markets regulator fixes weekly derivative expiry days for exchanges, source says
MUMBAI, June 17 (Reuters) - India's markets regulator has approved the National Stock Exchange of India's (NSEI.NS), opens new tab request to move the expiry of equity derivative contracts to Tuesdays, a source with direct knowledge of the matter told Reuters.
Meanwhile, BSE's (BSEL.NS), opens new tab weekly derivatives contract will expire on Thursday, the exchange operator said, opens new tab in a filing.
SEBI and NSE did not immediately respond to Reuters's request for comments.
"Securities and Exchange Board of India (SEBI) has conveyed its approval for change of expiry dates as sought by exchanges," the source said on the condition of anonymity as the decision was not yet public.
Last month, SEBI said expiries for all equity derivatives contracts would be limited to either Tuesdays or Thursdays, to enhance investor protection and market stability.
SEBI had said in May that "too many expiry days has the potential to revive expiry day hyperactivity which could jeopardize investor protection and market stability."
In October, SEBI reduced the number of weekly options contracts available to investors to one benchmark index per exchange, among other measures to curb a derivatives trading frenzy.
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