National Stock Exchange, on May 7, announced that it will be conducting a special live trading session on Saturday, May 18, 2024. This session will feature an intra-day switch from the Primary site to the Disaster Recovery site across equity and equity derivative segments.
“Members are requested to note that exchange shall be conducting special live trading session with intra-day switch over from primary site to disaster recovery site on Saturday, May 18, 2024, in equity and equity derivatives segments,” NSE said.
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The purpose of this exercise is to assess their readiness in managing significant disruptions or failures at the primary site, thereby ensuring robust contingency measures are in place.
During the special live trading session, there will be an intra-day transition from the Primary Site (PR) to the Disaster Recovery (DR) site. A Disaster Recovery site is indispensable for all vital institutions such as exchanges, ensuring operational continuity in the event of any unforeseen circumstances impacting the main trading center in Mumbai, thereby facilitating seamless and uninterrupted operations.
The session will be conducted in two segments. The initial phase will consist of a 45-minute session, beginning at 9:15 am. Following this, a special live trading session will commence at 11:45 am and come to an end at 12:40 pm.
In the special session, all securities, including those associated with derivative products, will be subject to a maximum price band of 5 per cent.
Securities currently trading within the 2 percent or lower price band will remain within their respective bands. This initiative aims to curb excessive volatility and uphold market stability throughout the trading session.
The special live trading session adheres to Sebi guidelines, which require testing preparedness for managing unforeseen disasters from Mumbai’s main trading center.
This marks the third occasion this year where traders are required to work on a Saturday. Initially scheduled for January 20 (Saturday), the first disaster recovery session was extended to a full-fledged one due to the declaration of January 22 (Monday) as a holiday for the Ram Mandir inauguration. Comparable sessions from the disaster recovery site occurred previously in 2016 and 2017.
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Published: 07 May 2024, 06:07 PM IST