Description

NSE will conduct special mock trading sessions on January 10, 2026, including testing of BSE as alternative trading venue for NSE exclusive securities during simulated outage scenario.

Summary

NSE will conduct a special mock trading session in the Capital Market Segment on Saturday, January 10, 2026, with three trading sessions scheduled throughout the day. As part of the mock exercise, NSE and BSE will test a business continuity scenario where trading will be induced to stop at NSE around 12:30 PM and BSE will be invoked as an alternative trading venue for NSE exclusive securities.

Key Points

  • Mock trading scheduled for Saturday, January 10, 2026 with three separate trading sessions
  • Trading Session 1 from Primary Site: 10:45 AM to 12:30 PM
  • Trading Session 2 from DR Site: 13:15 PM to 14:00 PM
  • Trading Session 3 from Primary Site: 15:15 PM to 17:10 PM
  • Orders and trades from sessions 1 and 2 will not be available in session 3
  • At approximately 12:30 PM, NSE will simulate market stoppage and invoke BSE as alternative trading venue
  • Live re-login testing window: 20:00 to 20:30
  • Members requested to actively participate in all trading sessions
  • Broadcast messages will be sent before and after BSE invocation

Regulatory Changes

This mock exercise implements the mechanism established pursuant to SEBI circular SEBI/HO/MRD/TPD/P/CIR/2024/167 dated November 28, 2024, which directed NSE and BSE to establish business continuity for the interoperable segment by providing market participants with an alternative trading venue. NSE provisioned this mechanism via circular NSE/MSD/67344 dated March 28, 2025.

Compliance Requirements

  • Members must participate in all three trading sessions scheduled for the mock day
  • Members should prepare for the simulated outage scenario at 12:30 PM
  • Members need to monitor broadcast messages on trading terminals for communications regarding BSE invocation
  • Members should be ready to transition to BSE as alternative trading venue during the test

Important Dates

  • January 10, 2026: Special mock trading day
    • Session 1 (Primary Site): 10:45 AM - 12:30 PM
    • Simulated outage and BSE invocation: ~12:30 PM
    • Session 2 (DR Site): 13:15 PM - 14:00 PM
    • Session 3 (Primary Site): 15:15 PM - 17:10 PM
    • Live re-login: 20:00 - 20:30

Impact Assessment

Market Impact: Medium - This is a mock trading exercise with no real market transactions, but requires active participation from all members to test critical business continuity infrastructure.

Operational Impact: Medium - Members need to allocate resources for Saturday operations and prepare systems to handle the simulated outage scenario and potential transition to BSE as alternative trading venue. The testing validates the readiness of the alternative trading venue mechanism which is crucial for maintaining market integrity during actual outages.

Business Continuity: The exercise tests the interoperability mechanism between NSE and BSE, ensuring that in case of actual disruptions, trading can continue seamlessly on an alternative platform, thereby protecting market participants and maintaining confidence in market infrastructure.

Impact Justification

Routine mock trading session with additional testing of critical business continuity mechanism for alternative trading venue, requiring member participation but no operational changes