Description

BSE announces mock trading session for Equity Derivatives segment on January 10, 2026, including testing of alternate trading venue mechanism for NSE-exclusive securities.

Summary

BSE has scheduled a mock trading session for the Equity Derivatives segment on Saturday, January 10, 2026. The session will test various trading functionalities including exceptional market conditions, risk-reduction mode, and trading halts. A new BOLT Pro TWS version 12.50 will be released. Additionally, BSE and NSE will test the alternate trading venue mechanism where BSE will serve as backup for NSE-exclusive securities during a simulated NSE outage.

Key Points

  • Mock trading session scheduled for Saturday, January 10, 2026
  • New BOLT Pro TWS version 12.50 to be released (details in separate circular)
  • Testing of alternate trading venue mechanism for NSE-exclusive securities
  • Simulated NSE outage scenario where BSE will be invoked as alternate venue
  • No margin, pay-in/pay-out obligations or rights/liabilities from mock trades
  • Active participation and feedback from all members requested

Regulatory Changes

Implementation of SEBI circular SEBI/HO/MRD/TPD/P/CIR/2024/167 dated November 28, 2024, requiring BSE and NSE to establish business continuity mechanism for interoperable segment with alternate trading venue. This was previously implemented and communicated via BSE circular no 20250328-19 dated March 28, 2025.

Compliance Requirements

  • Trading members using third-party platforms or in-house systems via ETI APIs should participate in mock trading
  • Members should test their trading applications for various functionalities
  • Feedback must be submitted by 2:00 PM on the mock trading day
  • Members should note the broadcast message format for alternate venue invocation: “NSEFO excl contracts avlble frm hh:mm”

Important Dates

January 10, 2026 - Mock Trading Session Schedule:

  • Log-in: 10:15 AM to 11:15 AM
  • Pre-Open Order Entry: 11:00 AM to 11:07/08 AM (random stoppage in last minute)
  • Order Matching: 11:08 AM to 11:12 AM
  • Buffer Period: 11:12 AM to 11:15 AM
  • Continuous Trading: 11:15 AM to 02:00 PM
  • Trade Modification: Until 02:10 PM
  • Feedback Submission Deadline: 02:00 PM

Impact Assessment

Market Impact: None - This is a mock trading session with no real trading obligations or market consequences.

Operational Impact: Low - Members should allocate resources to participate in testing and provide feedback. The session provides an opportunity to familiarize with new TWS version 12.50 and test the alternate trading venue mechanism.

Testing Scope: The session will test critical functionalities including risk-reduction mode, trading halts, exceptional market conditions, and the business continuity mechanism for NSE-exclusive securities in the interoperable segment.

Contact Information:

Impact Justification

Routine mock trading session for testing purposes with no real market impact or obligations