On Tuesday, June 6, the National Stock Exchange of India (NSE) issued a new circular changing the Nifty Bank Futures and Options (F&O) expiry day from Thursday to Friday with effect from July 14, 2023.
The National Stock Exchange of India Limited (NSE) started trading in derivatives on 12 June 2000 with the launch of index futures and become the world’s largest derivatives exchange by the number of contracts traded in the year 2022.
The new circular will be effective from the End of Day (EOD) of July 6, 2023 and the revised contracts of Nifty Bank Futures & Options (F&O) will be available for trading from July 07, 2023 and will expire on the next Friday.
Trading in the Revised Nifty Bank contract will commence from July 7, 2023 and will expire on July 14, 2023, which will be the first Friday of the Revised Nifty Bank contract. After this, every Futures and Options (F&O) contract of Nifty Bank will continue to expire every Friday in the same sequence.
As a result of the revised contract rule, the weekly contracts of Nifty Bank will continue to expire every Friday, while the monthly and quarterly contracts will continue to expire on the last Friday of the expiry month.
However, if any Friday happens to be a trading holiday, the expiry day of that contract will be the previous trading day, whether it is a weekly contract, a monthly or a quarterly contract.
The National Stock Exchange of India Limited (NSE) is one of the largest stock exchanges in the world by market capitalization and was the third largest in cash equity in calendar year 2022.