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BSE, NSE and Angel One Shares React to New SEBI CAS Rules
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CNBC TV18•16-10-2026, 09:21
BSE, NSE and Angel One Shares React to New SEBI CAS Rules
- •Shares of major exchanges and broking firms like BSE, NSE, and Angel One witnessed mixed reactions following SEBI's new circular on the Closing Auction Session.
- •SEBI revised the index derivatives expiry settlement price to be determined by the Volume Weighted Average Price during the last 30 minutes of the Continuous Trading Session.
- •Unexecuted iceberg orders at the end of the Continuous Trading Session will now be carried forward to the CAS as fully disclosed limit orders unless canceled.
- •The newly structured CAS will operate as a 10-minute session from 3:30 PM to 3:40 PM with specific windows for order placement and reference price determination.
- •Most of the new regulatory provisions will come into effect starting December 7, 2026, while unexecuted iceberg order rules take effect on February 8, 2027.
Key Questions Answered
Under SEBI's revised circular, the Closing Auction Session will operate as a 10-minute session from 3:30 to 3:40 PM, featuring structured phases for reference price calculation, order placement, and random closing.
Derivatives expiry settlement prices will be determined using the Volume Weighted Average Price (VWAP) of constituents during the final 30 minutes of the Continuous Trading Session, replacing previous CAS methodology.
Most provisions outlined in SEBI's circular will officially take effect on December 7, 2026, while specific regulations governing unexecuted iceberg order transitions will be implemented on February 8, 2027.
