NSE extends trade timing for interest rate derivatives to 5 pm; move aimed at converging it with underlying market timings

The National Stock Exchange has extended the market trade timing for interest rate derivatives to 5 pm, according to a circular issued on Tuesday. The change will come into effect from February 23. At present, the contracts are traded between 9 am and 3:30 pm.

The latest move is aimed at converging it with underlying market timings, the exchange said in a circular.

"Contracts for the expiry month February 2023 will be available for trading till 5 PM on expiry day i.e. February 23, 2023. There shall be no change in trading hours for other interest rate derivative contracts," the exchange said in the circular.

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All existing expiry contracts with expiry day beyond February 23 and all new expiration contracts introduced thereafter shall be made available for trading till 5 pm on expiry day. "There shall be no change in CP Code modification/ Give up timings and same will continue till 5:30 PM.

There shall be no change in Final Settlement Price computation mechanism i.e. it will be calculated based on last 2 hours of VWAP of NDS OM trades subject to minimum of 5 trades," the circular added. Interest rate derivative (IRD) is a financial derivative contract whose value is derived from one or more interest rates, prices of interest rate instruments, or interest rate indices.

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