Description

NSE will conduct mock trading sessions in the Capital Market Segment on November 29, 2025, with two trading sessions and testing of algorithmic trading functionality for retail investors.

Summary

NSE will conduct a mock trading session in the Capital Market Segment on Saturday, November 29, 2025. The session will include two separate trading sessions from the primary site, with Trading Session-2 being a clean session where orders and trades from Session-1 will not be available. Members are required to actively participate and test the functionality related to safer participation of retail investors in algorithmic trading as per SEBI circular SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/132 dated September 30, 2025.

Key Points

  • Mock trading scheduled for Saturday, November 29, 2025
  • Two separate trading sessions planned from primary site
  • Trading Session-2 will be a clean session (no carryover from Session-1)
  • No new NEAT+ version release during this mock session
  • NEAT+ version 7.8.4 currently in use; version 7.8.6 discontinuation scheduled for December 06, 2025 (mock)
  • Members must test algorithmic trading functionality for retail investor safety
  • Evidence of participation in mock or simulation environment must be submitted to NNFREG@nse.co.in
  • Active participation by all members is required

Regulatory Changes

No new regulatory changes introduced. This circular implements testing requirements for the existing SEBI circular SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/132 dated September 30, 2025 regarding safer participation of retail investors in algorithmic trading.

Compliance Requirements

Testing Requirements:

  • Members must test functionality related to safer participation of retail investors in algorithmic trading
  • Testing can be done in either mock sessions or simulated environment

Evidence Submission:

  • Members must provide evidence of participation to NSE
  • Email submission to: NNFREG@nse.co.in
  • Required details:
    • Trading Member Name
    • Trading Member code
    • User ID
    • Participation session type (Mock/Simulation environment)

System Preparation:

  • Ensure systems are ready for NEAT+ version 7.8.4
  • Prepare for version 7.8.6 discontinuation on December 06, 2025

Important Dates

November 29, 2025 (Saturday):

Trading Session-1:

  • Block Deal Window Session-1: 09:45 - 10:00
  • Pre-Open: 10:00 - 11:23 (random closure in last minute)
  • Special Pre-open for IPO & Relisted securities: 10:00 - 10:45 (random closure in last 10 minutes)
  • Normal Market: 11:30 - 13:00
  • T+0 Market: 11:30 - 12:30
  • Call Auction Illiquid: 11:30 - 12:30 (2 sessions of 30 mins each)
  • Auction Market: 11:45 - 12:30
  • Block Deal Window Session-2: 12:05 - 12:20
  • Closing Session: 13:10 - 13:15
  • Trade Modification end: 13:20

Trading Session-2:

  • Block Deal Window Session-1: 16:15 - 16:30
  • Pre-Open: 16:30 - 16:38 (random closure in last minute)
  • Normal Market: 16:45 - 17:15
  • Call Auction Illiquid: 16:45 (1 session of 15 mins)
  • Closing Session: 17:25 - 17:35
  • Trade Modification end: 17:45

Live Re-login: 19:00 - 19:30

December 06, 2025: NEAT+ version 7.8.6 discontinuation (mock)

Impact Assessment

Market Impact: Minimal - This is a mock trading session on a weekend with no live market impact.

Operational Impact: Medium for trading members who need to:

  • Allocate resources for Saturday mock session participation
  • Test new algorithmic trading safeguards
  • Prepare systems for upcoming version changes
  • Submit participation evidence to NSE

Member Preparedness: The mock session provides an opportunity for members to test their systems and ensure readiness for the algorithmic trading requirements before they become mandatory under the SEBI glide path.

Technology Impact: Members using NEAT+ version 7.8.4 should prepare for eventual migration as version 7.8.6 will be discontinued in the December 06, 2025 mock session.

Impact Justification

Routine mock trading session for system testing with focus on new algorithmic trading safeguards for retail investors. Medium importance for members to test systems, but low market impact as it's a weekend simulation.