“The above shall be effective from trade date July 7, 2023, Friday and accordingly, all existing contracts with Thursday expiry will be revised to Friday on July 6, 2023, EOD. The first Friday expiry will be on July 14, 2023,” NSE said in a circular.
Under the existing rules, Nifty Bank weekly contracts expire every Thursday and on last Thursday of the expiry month in case of monthly and quarterly contracts.
From mid-July, NSE has revised the weekly expiry to Friday of every week. In case Friday is a trading holiday, then the expiry day is the previous trading day.
In case of monthly contracts in the derivative segment of the widely-tracked banking index, the expiry will be held on last Friday of the month.
At the end of the trading day on July 6, NSE said the expiry date and maturity date for all existing F&O contracts will be revised to Friday. The expiry date of existing contracts maturing on July 13 (Thursday) will be postponed to July 14 (Friday).
The expiry date of existing contract maturing on last Thursday of the month i:e August 31 (Thursday) will be preponed to August 25 (Friday) of the respective current expiry month.”Any new contract created for trading on / after EOD of July 06, 2023, shall be created as per the revised expiry days as mentioned in the aforesaid table. Members are requested to note that there is no other change in the existing contracts specifications of Nifty Bank,” NSE said.
Clearing corporations will later on release the settlement schedule under the new expiry date.
“The circular shall come into effect from EOD of July 06, 2023, and revised contracts shall be available for trading from July 07, 2023. Members are advised to take the updated contract.gz file available on extranet path faoftp/faocommon before trading on July 07, 2023,” the exchange said.