Salient Features of the Special Pre Open session
Duration of special Pre-open session - 60 minutes from 9:00am - 10.00am
This Pre-Open session will be conducted only on first day of trading (in case of IPOs) and recommencement of trading (in case of re-listed Securities).
All executable orders for a particular stock will match at the equilibrium price which will be the market opening price.
Orders are collected in the order entry period & execution occurs in the order matching period.
Only Limit Orders are accepted (including limit IOC orders). No market orders will be allowed.
All orders shall be disclosed in full quantity, i.e. orders where revealed quantity function is enabled, will not be allowed during the pre-open session.
Indicative opening price & matchable quantity for the stock will be disseminated at regular intervals of order entry period.
Block deal session will not be held for participating Securities on first day of trading\recommencement till 1st day of order matching & resultant price discovery. However Securities will be enabled for the regular block deal session from the next trading day onwards after price discovery.
In case of no price discovery in special pre- open session -
IPO Securities:
All orders entered will move to continuous trading session at their limit price on price-time priority
Relisted stocks:
All orders will be CANCELLED by the system and the Security shall continue to trade in call auction mechanism until price is discovered
Relisted stocks and IPOs with issue size less than 250Cr will be traded in TFT (Trade for Trade) segment for first 10 days.
No Price band will be applicable for IPOs and Relisted stocks in the special Pre-Open Session.