Description

BSE and NSE will conduct a special mock trading session to test business continuity mechanism where NSE acts as alternative trading venue for BSE exclusive securities during simulated outage.

Summary

BSE has announced a special mock trading session to test the business continuity mechanism for interoperable segments, as mandated by SEBI circular SEBI/HO/MRD/TPD/P/CIR/2024/167 dated November 28, 2024. During the mock session, BSE will simulate a market outage between 2:15 PM to 2:45 PM, during which NSE will be invoked as an alternative trading venue for BSE exclusive securities in the Equity Segment. This test ensures that market participants have access to an alternative trading platform in case of disruptions.

Key Points

  • BSE and NSE will test business continuity scenario during mock trading session
  • Simulated outage at BSE will occur between 2:15 PM to 2:45 PM
  • NSE will serve as alternative trading venue for BSE exclusive securities during outage period
  • Only applicable BSE exclusive securities will be activated at NSE
  • BSE will resume trading operations between 2:45 PM to 3:15 PM
  • Members must participate and place orders at both exchanges, especially for BSE exclusive securities
  • Feedback to be provided at bsehelp@bseindia.com

Regulatory Changes

This mock session implements the business continuity mechanism established under SEBI circular SEBI/HO/MRD/TPD/P/CIR/2024/167 dated November 28, 2024, which directed BSE and NSE to establish mechanisms ensuring business continuity for interoperable segments by providing alternative trading venues. The Exchange previously informed members about this mechanism through circular no 20250328-18 dated March 28, 2025.

Compliance Requirements

  • Members must participate in the mock trading session
  • Members should place orders at both BSE and NSE exchanges during the session
  • Special attention required for trading BSE exclusive securities during the alternative venue activation period
  • Members must provide feedback after the mock session to bsehelp@bseindia.com
  • Members should refer to Exchange circular no 20250328-18 dated March 28, 2025 for detailed information on business continuity procedures
  • Members should refer to mock notice no 20251211-53 dated December 11, 2025 for specific timings

Important Dates

  • Mock Session Date: As per mock notice no 20251211-53 dated December 11, 2025
  • Simulated Outage Window: 2:15 PM to 2:45 PM
  • BSE Trading Resumption: 2:45 PM to 3:15 PM

Impact Assessment

Operational Impact: Medium - Members need to test their systems and processes for trading BSE exclusive securities on NSE platform during contingency scenarios. This requires operational readiness and familiarity with alternative trading venue procedures.

Market Impact: Low - This is a mock session with no impact on live trading. However, successful testing ensures minimal market disruption in case of actual outages.

Technological Impact: Medium - Members’ trading systems must be capable of seamlessly switching between BSE and NSE platforms for BSE exclusive securities during disruptions.

Compliance Impact: Medium - Members must ensure their teams understand and can execute business continuity procedures as mandated by SEBI, including order placement on alternative venues during primary exchange outages.

Impact Justification

Testing of business continuity mechanism for interoperable segments; requires member participation in mock session but no immediate operational changes to live trading.