Description

NSE will conduct a mock trading session in the Securities Lending and Borrowing Market (SLBM) on December 06, 2025, with emphasis on testing algorithmic trading functionalities for retail investor safety.

Summary

NSE will conduct a mock trading session in the Securities Lending and Borrowing Market (SLBM) on Saturday, December 06, 2025. No new version release is scheduled. The session includes testing from both primary and disaster recovery sites, with special emphasis on testing functionalities related to safer participation of retail investors in algorithmic trading as per SEBI guidelines.

Key Points

  • Mock trading session scheduled for December 06, 2025 in SLBM segment
  • No new version release - current NEAT version 1.3.3 will be used
  • Two trading sessions planned: Primary Site (11:15-15:30) and DR Site (16:15-16:45)
  • Live re-login window available from 18:30 to 19:00
  • Members must test algorithmic trading safety features for retail investors
  • Evidence of participation must be submitted to NNFREG@nse.co.in
  • All outstanding orders will be cleared before each session
  • No financial obligations arise from mock trading activities

Regulatory Changes

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

Compliance Requirements

  • Trading members must participate in mock or simulation sessions to test algorithmic trading functionalities
  • Members must provide evidence of participation including:
    • Trading Member Name and code
    • User ID
    • Session type (Mock/Simulation)
    • Date(s) of participation
    • Segment details
  • Evidence to be submitted to email: NNFREG@nse.co.in
  • Members using NNF software must manually clear orders in their systems
  • Members should refer to previous NSE circulars for implementation standards and operational modalities

Important Dates

  • December 06, 2025: Mock trading session
    • Trading Session-1 (Primary Site): 11:15 - 15:30
      • Normal Market open: 11:15
      • Contingency Start: 12:00
      • Contingency Close: 13:30
      • Normal Market close: 15:30
    • Trading Session-2 (DR Site): 16:15 - 16:45
    • Live Re-login: 18:30 - 19:00

Impact Assessment

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

Operational Impact: Low - Routine testing exercise for trading members. Members need to allocate resources for participation and testing of algorithmic trading safety features.

Member Impact: Trading members must ensure their systems are ready for mock trading and comply with evidence submission requirements. This is part of ongoing compliance with SEBI’s algorithmic trading safety framework for retail investors.

Technical Impact: Testing covers both primary and disaster recovery sites, ensuring system resilience. Members can also use daily simulated trading sessions for additional testing.

Impact Justification

Routine mock trading session with no new version release. Primary focus is testing algorithmic trading safety features with no direct market impact.