Description

NSE will conduct mock trading on March 14, 2026 to test the revised Order-to-Trade Ratio (OTR) framework, with no new version release. The revised OTR framework will go live on April 06, 2026.

Summary

NSE is conducting a mock trading session on Saturday, March 14, 2026 to test the revised Order-to-Trade Ratio (OTR) framework as per SEBI circular ref. no. HO/47/11/16(2)2025-MRD-POD2/I/4113/2026 dated February 04, 2026 and Exchange circular NSE/SURV/72668 dated February 06, 2026. No new software version will be released for this session. The revised OTR framework is scheduled for production release on April 06, 2026.

Key Points

  • Mock trading will be conducted from both Primary Site and BCP (Business Continuity Plan) Site on March 14, 2026
  • NEAT+ version 7.8.7 (download path: /faoftp/faocommon/NEATPlus787) is required
  • No new version release is associated with this mock session
  • Revised OTR framework goes live in production on April 06, 2026
  • All outstanding orders will be cleared before each session
  • Trades during mock sessions carry no financial obligation (no fund pay-in or pay-out)
  • Members must re-login to live environment after mock session to ensure smooth connectivity for Monday, March 16, 2026

Regulatory Changes

The mock session tests the revised Order-to-Trade Ratio (OTR) framework mandated by SEBI circular ref. no. HO/47/11/16(2)2025-MRD-POD2/I/4113/2026 dated February 04, 2026. The revised framework will be released to production effective April 06, 2026.

Compliance Requirements

  • Members must participate using all trading software during the mock session
  • Members must re-login to the live environment after the mock session to ensure connectivity for March 16, 2026
  • Only valid and compliant UCC/PAN uploaded and approved before cutoff will be allowed; UCC validation will be skipped during contingency time for order entry
  • Members using NNF software must manually clear orders in their systems before each session
  • Members may use either Mock Trading or Simulated Environment to meet regulatory requirements per circular NSE/MSD/46441 and SEBI circular SEBI/HO/MRD1/DSAP/CIR/P/2020/234

Important Dates

  • March 14, 2026: Mock trading session
    • Primary Site Session 1: Pre-Open 09:00, Normal Market 09:15–12:15
    • BCP Site Session 2: Pre-Open 13:00, Normal Market 13:15–15:15, Trade Modification end 15:25
    • Live Re-login: 16:30–17:00
  • March 16, 2026: Next live trading day (members must ensure connectivity)
  • April 06, 2026: Revised OTR framework goes live in production

Impact Assessment

This is a routine mock trading exercise with no immediate market impact. It is intended to allow members to test connectivity and familiarise themselves with the upcoming OTR framework changes before the April 06, 2026 production release. Members in the Futures & Options segment should participate to validate their systems and trading software against the revised OTR conditions.

Impact Justification

Routine mock trading session for testing OTR framework changes. No immediate market impact; production release is scheduled for April 06, 2026. Affects only member connectivity and preparedness.