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ANMI agrees to extend derivatives trading hours, BBF's position unclear

 Stockbrokers' body Association of National Exchange Members of India (ANMI) has agreed to NSE's proposal to extend derivatives trading hours. The company's board has given in-principle approval to extend market hours for index derivatives by three hours.


Approval of ANMI is required to agree to a separate session between 6 and 9 p.m. The NSE proposed the transaction in the evening session. Securities and Exchange Board of India (SEBI) Chairperson Madhavi Puri Buch recently said that the broking community is not in agreement on extending market hours.

The Brokers Industry Standards Forum (ISF) will discuss the issue at its next board meeting later this month. Uttam Bagri of Brokers ISF said, 'Brokers have requested ISF members to give their personal advice on extending market hours. After receiving all the suggestions, the agency will submit their recommendations in this regard. The process is expected to be completed within a month.

ISF consists of members from three broker associations ANMI, Bombay Stock Exchange Brokers Forum (BBF) and Commodity Participants Association of India (CPAI). According to sources, BBF has not clarified its position even though ANMI has approved it.

Several changes were made in the last few years and compliance deadlines were also tightened, an industry association official said. We are preparing for T+0 settlement cycle

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