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CAS Here to Stay, Liquidity Will Pick up, Says Sebi Chief
- The Securities and Exchange Board of India will retain the Closing Auction Session introduced in August despite initial liquidity challenges and increased volatility during its roughly 20-minute duration, which accounts for less than 1% of daily cash-market turnover.
- SEBI is reconsidering the methodology for determining the closing price of derivatives on expiry day and plans to issue a consultation paper on proposed changes soon.
- SEBI took enforcement action against certain entities for alleged manipulation during CAS but allowed their market access after impounded amounts were deposited.
- The regulator is using artificial intelligence tools for better market surveillance and risk monitoring, aiming for more proactive and real-time supervision.
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CAS here to stay, liquidity will pick up, says Sebi Chief
Sebi chief Tuhin Kanta Pandey stated the closing auction session is here to stay. He acknowledged initial liquidity concerns, which have improved in other markets. Pandey mentioned Sebi will soon issue a consultation paper on the CAS framework. Some market participants praised the implementation, especially during MSCI rebalancing events. However, a segment of the market faces impacts due to settlement price dependency.
·Mumbai, India
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right3Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 17%
C 33%
R 50%
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