BSE shares jumped 6% after the Securities and Exchange Board of India (SEBI) released a consultation paper proposing a standardized framework for the expiry days of equity derivative contracts. As of 9:15 AM, the shares were trading 9.22% higher at Rs 5,116.10.
According to SEBI’s draft, all stock exchanges must align contract expiries to either Tuesdays or Thursdays, ensuring greater predictability and uniformity in the derivatives market.
SEBI has also suggested that exchanges seek prior regulatory approval before launching new contracts or modifying expiry days. Public feedback on the proposal is open until April 17, 2025.
The proposal arrives at a pivotal time for BSE, which has been gaining ground in the options market. Earlier this year, NSE announced that it would shift expiries for select contracts to Mondays from April 4, 2025, sparking concerns about liquidity overlap with BSE’s existing Tuesday expiries. However, SEBI’s framework could strengthen BSE’s position by giving regulatory backing to its Tuesday expiries, ensuring coexistence between the exchanges.
Market analysts believe this move will bring stability to the derivatives segment while safeguarding BSE’s growing market share. The exchange’s index options premium market share surged from 16% in December 2024 to over 22% in February 2025, driven primarily by its Tuesday expiry contracts.
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