In a strategic move aimed to neutralize any potential competition from its rival and Asia’s oldest stock exchange BSE Ltd, India’s largest stock exchange NSE has decided to revise the expiry date of its monthly and weekly Bank Nifty derivative contracts.
Effective 7 July, the new expiry date will be shifted from Thursday to Friday. However, the NSE will continue to maintain the Thursday expiry date for its weekly and monthly Nifty derivatives.
The move by NSE comes after BSE recently altered the expiry day of its weekly Sensex and Bankex derivatives contracts from Thursday to Friday, in an effort to attract more trading volumes. BSE’s strategic move is presumed to be the idea of its new managing director and chief executive officer Sundararaman Ramamurthy, who had taken charge in January.
To enhance its presence in futures and options (F&O), the BSE announced on 15 May the reintroduction of weekly and monthly Sensex and Bankex contracts, with the expiry date shifted to Friday instead of Thursday, as followed by the NSE.
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