Description

BSE announces mock trading session for Equity Derivatives segment on December 06, 2025, including testing of new BOLT Pro TWS version 12.40 and pre-open session implementation.

Summary

BSE has scheduled a mock trading session for the Equity Derivatives segment on Saturday, December 06, 2025. The session will facilitate testing of trading systems, risk management software, and the new BOLT Pro TWS version 12.40. Members can participate in either the mock trading session or UAT environment to fulfill regulatory requirements under SEBI circular SEBI/HO/MRD1/DSAP/CIR/P/2020/234. The mock session will include testing of pre-open session functionality and reserved contracts (strikes) ahead of their December 08, 2025 go-live date.

Key Points

  • Mock trading session scheduled for Saturday, December 06, 2025
  • New BOLT Pro TWS version 12.40 will be released (details via separate circular)
  • Pre-open session will be tested with two sessions: 09:00-09:15 AM and 10:00 AM-12:00 Noon
  • Reserved contracts (strikes) in Equity Derivatives to be tested before December 08, 2025 go-live
  • Members can test various functionalities including risk-reduction mode, trading halt, and exceptional market conditions
  • Third-party platform users and in-house system developers using IML/ETI APIs can participate
  • Alternative: Members may use UAT environment instead of mock trading to meet regulatory requirements
  • Feedback required by 4:30 PM on the mock trading day

Regulatory Changes

This mock session supports compliance with:

  • SEBI circular no. SEBI/HO/MRD1/DSAP/CIR/P/2020/234 dated November 24, 2020 regarding testing requirements
  • BSE Notice No 20201201-22 dated December 1, 2020 on testing of software used in trading and risk management
  • BSE circular no. 20251110-40 dated November 10, 2025 introducing Pre-Open Session in Equity Derivatives
  • BSE circular no. 20251028-51 dated October 28, 2025 regarding Reserved contracts (strikes) in Equity Derivatives

Compliance Requirements

For Trading Members:

  • Participate in mock trading session OR UAT environment to fulfill regulatory testing requirements
  • Test trading applications and platforms for all functionalities
  • Test systems under exceptional market conditions (risk-reduction mode, trading halt, etc.)
  • Provide feedback by 4:30 PM on December 06, 2025
  • Contact BSE Tech Support (022-22728053, bse.tech@bseindia.com) or Help Desk (022-45720400/600, 022-69158500, bsehelp@bseindia.com) for queries

For Third-Party Vendors and In-House Developers:

  • Test empaneled vendor platforms or in-house systems using IML/ETI APIs
  • Validate integration with BOLT Pro TWS version 12.40

Important Dates

  • December 04, 2025: Circular issue date
  • December 06, 2025: Mock trading session
    • Login: 08:15 AM - 09:00 AM
    • Pre-Open Session 1: 09:00 AM - 09:15 AM
    • Continuous Trading 1: 09:15 AM - 09:30 AM
    • Pre-Open Session 2: 10:00 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: Go-live date for Pre-Open Session and Reserved contracts in Equity Derivatives

Impact Assessment

Operational Impact: Medium - Trading members must allocate resources for mock trading participation and system testing. The introduction of pre-open sessions and reserved contracts represents significant workflow changes requiring thorough testing.

System Impact: Medium - New BOLT Pro TWS version 12.40 requires validation. Members using third-party platforms or in-house systems must ensure compatibility and proper functioning of IML/ETI API integrations.

Market Impact: Low - This is a testing session with no impact on actual market operations. However, successful testing is critical for smooth implementation of new features from December 08, 2025.

Risk Management: Testing exceptional market conditions (risk-reduction mode, trading halt) during mock session helps ensure system resilience and preparedness for real-world scenarios.

Impact Justification

Scheduled mock trading session for system testing and validation. Important for members to test new features including BOLT Pro TWS 12.40, pre-open session, and reserved contracts before go-live on December 08, 2025.