SEBI Chairman maintains CAS mechanism, nears NSE IPO approval

SEBI NSE IPO Closing Auction Session Indian stock market Tuhin Kanta Pandey

SEBI Chairman Tuhin Kanta Pandey announced that the regulator will not make any immediate changes to the Closing Auction Session (CAS) mechanism. Despite market feedback regarding price divergence and teething troubles, Pandey stated the system will continue to operate as currently designed, expressing confidence that participation will increase as brokers integrate the facility into their trading applications.

The CAS was introduced to replace the volume weighted average price (VWAP) system, utilizing an equilibrium-price mechanism during a 20-minute window to determine official closing prices for eligible stocks.

Additionally, Pandey indicated that the regulator is nearing the final approval of the National Stock Exchange’s (NSE) Draft Red Herring Prospectus (DRHP), moving the major equity bourse closer to its initial public offering (IPO).

Entities

National Stock Exchange · Securities and Exchange Board of India · Tuhin Kanta Pandey

Sources

SEBI not changing Closing Auction Session mechanism: Chairman Pandey [newsable.asianetnews.com]

18 days ago

Kirit Somaiya seeks SEBI probe into sharp Sensex swings after CAS debut [www.orissapost.com]

16 days ago

Final Approval on NSE IPO Soon; No Changes in CAS, Says Sebi Chief Tuhin Kanta Pandey [www.news18.com]

17 days ago