What happened: SEBI sets an August 14 deadline for broker indicative closing price display
SEBI chairperson Tuhin Kanta Pandey also pointed to broker implementation status. SEBI chairperson Tuhin Kanta Pandey cited Zerodha and Upstox as already implementing indicative closing price display. SEBI chairperson Tuhin Kanta Pandey named other major brokers expected to follow the same timeline: ICICI Securities, Groww, and Angel One.
Background and earlier position: SEBI describes CAS as a globally consistent way to compute the closing share price
SEBI chairperson Tuhin Kanta Pandey described the closing auction session (CAS) as a “new globally consistent method” for calculating the closing share price. CAS is an auction-style closing mechanism intended to determine the market close price through the auction process.
SEBI chairperson Tuhin Kanta Pandey added that CAS adoption needs improvement after an early launch issue. SEBI chairperson Tuhin Kanta Pandey stated that buyers could not meet sellers on day one of CAS launch, which affects how effectively the auction-style mechanism works at the start.
What changed now: a fixed timeline for broker-level indicative close information
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