Description

BSE has scheduled a mock trading session for Equity Derivatives segment on December 06, 2025 to test trading systems, risk management, and new BOLT Pro TWS version 12.40.

Summary

BSE has scheduled a mock trading session for the Equity Derivatives segment on Saturday, December 06, 2025. This session allows trading members to test their systems, including third-party platforms and in-house developed systems, for various functionalities and exceptional market conditions. The new BOLT Pro TWS version 12.40 will be released during this session. Members can participate in either the mock trading session or UAT environment to fulfill regulatory requirements as per SEBI circular SEBI/HO/MRD1/DSAP/CIR/P/2020/234 dated November 24, 2020.

Key Points

  • Mock trading session scheduled for Saturday, December 06, 2025 for Equity Derivatives segment
  • Members can test trading applications, risk-reduction mode, trading halt, and other functionalities
  • New BOLT Pro TWS version 12.40 will be released (details in separate circular)
  • Two pre-open sessions scheduled: 09:00-09:15 AM and 10:00 AM-12:00 Noon
  • Continuous trading sessions: 09:15-09:30 AM and 12:00 Noon-03:30 PM
  • Trade modification window: 03:30 PM onwards
  • Pre-Open Session in Equity Derivatives and Reserved contracts (strikes) features will go live from Monday, December 08, 2025
  • Feedback required from all members by 4:30 PM on mock trading day

Regulatory Changes

No new regulatory changes introduced. This mock session supports compliance with existing SEBI circular no. SEBI/HO/MRD1/DSAP/CIR/P/2020/234 dated November 24, 2020 regarding testing of software used in trading and risk management.

Members should note upcoming features referenced from previous circulars:

  • Introduction of Pre-Open Session in Equity Derivatives Segment (circular 20251110-40 dated November 10, 2025)
  • Reserved contracts (strikes) in Equity Derivatives (circular 20251028-51 dated October 28, 2025)

Both features will go live from Monday, December 08, 2025.

Compliance Requirements

  • Trading members are encouraged to participate in the mock trading session or UAT environment
  • Members using third-party trading platforms or in-house developed systems through IML/ETI APIs should use this opportunity to test their applications
  • Members must provide feedback on the mock trading session by 4:30 PM on December 06, 2025
  • Members should test new features (Pre-Open Session and Reserved contracts) during the mock session before live implementation on December 08, 2025
  • Contact BSE Tech Support (022-22728053, bse.tech@bseindia.com) or Help Desk (022-45720400/600, 022-69158500, bsehelp@bseindia.com) for queries

Important Dates

  • December 04, 2025: Notice date
  • December 06, 2025: Mock trading session day
    • Pre-Open Session 1: 09:00-09:15 AM (Order Entry: 09:00-09:07/08 AM, Matching: 09:08-09:12 AM, Buffer: 09:12-09:15 AM)
    • Continuous Trading 1: 09:15-09:30 AM
    • Pre-Open Session 2: 10:00 AM-12:00 Noon (Order Entry: 10:00-11:54/55 AM, Matching: 11:56-11:58 AM, Buffer: 11:58 AM-12:00 Noon)
    • Continuous Trading 2: 12:00 Noon-03:30 PM
    • Trade Modification: 03:30 PM onwards
    • Feedback deadline: 4:30 PM
  • December 08, 2025: Pre-Open Session and Reserved contracts features go live

Impact Assessment

Market Impact: None. This is a mock trading session with no impact on actual market operations or live trading.

Operational Impact: Low to Medium for trading members. Members have the opportunity to test their systems in a controlled environment before new features (Pre-Open Session and Reserved contracts) go live on December 08, 2025. This reduces operational risk during actual implementation.

Technical Impact: Members using third-party platforms, empaneled vendors, or in-house systems can validate their applications for various scenarios including exceptional market conditions. The release of BOLT Pro TWS version 12.40 requires testing to ensure smooth transition.

Compliance Impact: Supports members in meeting regulatory testing requirements under SEBI guidelines. Optional participation with alternative UAT environment available.

Impact Justification

Routine mock trading session for system testing purposes. No market impact or regulatory changes affecting actual trading or investors.