The pre-open session shall be for duration of 15 minutes i.e. from 9:00 am to 9:15 am. The pre-open session is comprised of Order Entry period and Order Matching period.
Pre-open session shall comprise of two sessions viz.
Order Entry Period
- Order Entry period.
- Order Matching period.
After order matching period there are buffer period to facilitate transition between preopen and continuous session
Order Matching Period
- The order entry period shall be for duration of 8* minutes, during which order entry, modification and cancellation shall be allowed. (* - System driven random stoppage between 7th and 8th minute)
- Both Limit and market order will be allowed.
- Dissemination of indicative equilibrium price, indicative match-able quantity & indicative index values
Continuous Trading Session
- Order matching period will start immediately after completion of order entry period.
- No Order Addition/Modification/Cancellation shall be allowed
- Opening price determination, and trade confirmation.
9:15am – 3:30pm Trades occur continuously as orders match at time/price priority
- With the introduction of the Call Auction session the trading day will look like:
- The continuous trading session will commence only after the pre open session ends. The two trading sessions, continuous and call auction (pre-open) sessions will not run concurrently.
- The block deal trading session (35 minutes) will start with the commencement of the continuous session.