NSE Chief Favours Longer Trade Hours

National Stock Exchange chief executive officer Ashish Chauhan is batting for longer trading hours in stocks.

Speaking at the pre-budget roundtable meeting organised by three Indian markets industry as- sociations Association of National Exchanges Members of India (ANMI), Bombay Stock Ex- change Brokers’ Forum, and the Commodity Participants Association of India, Chauhan urged the trade bodies to back a proposal for longer trading hours.

“If Singapore and America can work for 16-18 hours, India, as a developing market, working for 6 hours and 15 minutes is not a great idea. We continuously resisted longer hours, and countries like Singapore prospered using our prices to trade,” he said.

Chauhan said longer hours would pro- vide mutual funds, banks, and insurance companies with large equity holdings to participate in hedging and providing liquidity.

Currently, commodity markets trade for 15 hours from 9 AM to 11:55 PM. Equity stock exchanges permit trading from 9:15 AM to 3:30 PM.

In October 2018, the Securities and Exchange Board of India (Sebi) permitted stock exchanges to extend trading hours for equity derivatives between 9 AM and 11.55 PM, similar to the trading hours for the commodity derivatives segment. S-ET

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