SEBI revises CAS auction window and reference price rule
In short
SEBI changed the closing auction session for trading days. The auction will run for 10 minutes, from 3:30 p.m. to 3:40 p.m., and closing prices will be set by auction. For cash-market reference prices, the final 15-minute VWAP will be used.
This matters for traders because it changes how closing prices are set. The reporting does not say when the revised framework starts.
What the reporting says
SEBI revised the Closing Auction Session framework and set a 10-minute auction window from 3:30 p.m. to 3:40 p.m. on trading days. The publisher-supplied summary says the session will use system-controlled order closure and auction-based closing prices, while cash-market reference prices will use the final 15-minute VWAP. The reporting does not state the effective date or any market reaction.
Why it matters
SEBI’s revised Closing Auction Session affects equity market trading near the close, especially cash-market reference prices and how closing prices are discovered. The reported 3:30 p.m. to 3:40 p.m. window and final 15-minute VWAP rule are relevant to traders, brokers and exchanges. The available summary does not state the implementation date or whether market participants have raised objections.