Description
NSE will conduct a special mock trading session in the Capital Market Segment on December 13, 2025, including testing of business continuity mechanism for BSE exclusive securities as alternate trading venue.
Summary
NSE will conduct a special mock trading session on Saturday, December 13, 2025, in the Capital Market Segment. The session will include two trading sessions from Primary Site (10:45-13:45) and DR Site (14:15-15:50), along with relogin timings (16:30-17:00). Additionally, NSE and BSE will test a business continuity scenario where BSE exclusive securities will be provisioned at NSE as an alternative trading venue following a simulated outage at BSE, in accordance with SEBI circular SEBI/HO/MRD/TPD/P/CIR/2024/167 dated November 28, 2024.
Key Points
- Mock trading session scheduled for December 13, 2025 with two main trading sessions from Primary and DR sites
- Trading Session-1 from Primary Site: 10:45 to 13:45 hours
- Trading Session-2 from DR Site: 14:15 to 15:50 hours
- Live re-login timings: 16:30 to 17:00 hours
- Special testing of business continuity mechanism for interoperable segment
- Simulated BSE outage scenario with NSE as alternate trading venue for BSE exclusive securities
- BSE exclusive securities will have “$” suffix in security master on December 12, 2025
- Only applicable BSE exclusive securities will be provisioned at NSE
- Sessions to be conducted: Normal Market, Block Deal window, Post Closing, and Auction Trading
Regulatory Changes
This mock session implements testing requirements from SEBI circular SEBI/HO/MRD/TPD/P/CIR/2024/167 dated November 28, 2024, which directed NSE and BSE to establish a business continuity mechanism ensuring market participants have an alternative trading venue for interoperable segments. NSE previously provisioned this mechanism via circular NSE/MSD/67344 dated March 28, 2025.
Compliance Requirements
- Members must participate in the mock trading session on December 13, 2025
- Only members registered and enabled at both NSE and BSE should participate in BSE exclusive securities/contracts
- Members should trade BSE exclusive securities only for clients whose UCCs (Unique Client Codes) are mapped at both NSE and BSE
- Members must refer to security master of December 12, 2025 to identify BSE exclusive securities (marked with “$” suffix)
- Members should refer to NSE circular NSE/MSD/67344 dated March 28, 2025 for detailed guidelines
- All prevalent trading norms applicable for NSE securities/contracts shall apply to BSE exclusive securities
- Members must monitor broadcast messages for invocation timing: “BSE exclusive securities will be enabled for trading in NSE at hh:mm”
Important Dates
- December 11, 2025: Circular issuance date
- December 12, 2025: Security master with BSE exclusive securities ("$" suffix) to be available
- December 13, 2025: Mock trading session date
- Trading Session-1 (Primary Site): 10:45 to 13:45
- Trading Session-2 (DR Site): 14:15 to 15:50
- Relogin timings: 16:30 to 17:00
Impact Assessment
Operational Impact: Members need to prepare their systems and processes for the mock trading session, including testing connectivity for both NSE and BSE platforms. This is a preparatory exercise with no impact on live trading.
Market Impact: No direct market impact as this is a mock session on a non-trading day (Saturday). However, successful testing will enhance business continuity capabilities for the interoperable segment.
Member Preparedness: Members must ensure their trading infrastructure can handle the alternate venue scenario, particularly for BSE exclusive securities. Members should verify UCC mapping across both exchanges for eligible participation.
System Testing: The session will validate the technical framework for seamless transition of trading in case of actual exchange outage, strengthening overall market resilience and investor protection mechanisms.
Impact Justification
Mock trading session for testing business continuity and interoperability mechanisms; operational preparation for members but no live market impact