India Faces Concerns Over Extended Derivatives Trading
- Brokers seek postponement of plan, shorter extension: people
- India is wooing investors across timezones after spat with SGX
The Securities & Exchange Board of India in Mumbai
Photographer: Adeel Halim/Bloomberg
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Brokerages are urging India’s market regulator to modify a plan to extend equity derivatives trading hours due to concerns over their readiness and the costs of implementing the proposal, according to people with knowledge of the matter.
Local and foreign brokers have asked the Securities & Exchange Board of India to postpone until January its plan to introduce longer trading hours, citing the need for more testing, the people said. They also discussed extending trading till 5 p.m., a shorter day than the 11:55 p.m. close that Sebi had said it would allow, the people said, asking not to be identified because the discussions are private.