Description

BSE announces phased rollout of enhanced market data streams with parallel support for existing NFCAST format until October 2025.

Summary

BSE announces a phased approach for implementing enhanced market data streams, providing parallel support for existing NFCAST format alongside new format for a limited period. The rollout extends from September 8 to October 13, 2025, with different go-live dates for each segment.

Key Points

  • Parallel run of existing and new NFCAST format for limited period based on member feedback
  • EOBI/EMDI/MDI streams will switch directly to new format without parallel support
  • New multicast IP and port assignments for enhanced data streams
  • Mock trading sessions scheduled before each segment go-live
  • Different implementation timeline for each trading segment

Regulatory Changes

  • Implementation of enhanced market data stream formats across all trading segments
  • New multicast IP and port configurations for improved data delivery
  • Phased migration approach replacing direct switchover originally planned

Compliance Requirements

  • Trading members must update systems to support new data stream formats
  • Third-party trading application vendors must undertake necessary system development
  • Migration from existing to new NFCAST format must be completed before discontinuation dates
  • Testing participation in mock trading sessions recommended

Important Dates

  • September 6, 2025: Mock trading for Currency Derivatives, Commodities Derivatives & EGR
  • September 8, 2025: Go-live for Currency Derivatives, Commodities Derivatives & EGR (new format)
  • September 13, 2025: Mock trading for Equity Derivatives
  • September 15, 2025: Go-live for Equity Derivatives (new format)
  • September 20, 2025: Mock trading for Equity segment
  • September 22, 2025: Go-live for Equity segment (new format)
  • October 3, 2025: Last day of parallel NFCAST for Currency/Commodities Derivatives & EGR
  • October 6, 2025: Discontinuation of existing NFCAST format for Currency/Commodities Derivatives & EGR
  • October 10, 2025: Last day of parallel NFCAST for Equity segment
  • October 13, 2025: Discontinuation of existing NFCAST format for Equity segment

Impact Assessment

  • High operational impact on all trading members and technology vendors requiring system updates
  • Reduced disruption risk through parallel run approach compared to direct switchover
  • Enhanced market data delivery capabilities once fully implemented
  • Technology infrastructure upgrade affecting real-time trading operations
  • Member preparation time extended through phased implementation and mock sessions

Impact Justification

Major technology upgrade affecting all trading members and vendors with specific implementation deadlines and system changes required