The National Stock Exchange (NSE) on June 06, 2023, issued a notification regarding the Revision in NIFTY BANK (BANKNIFTY) Expiry Futures and Options Contract Cycle.
The following has been stated namely: -
• The following revision shall be implemented for trading in BANKNIFTY contracts: -
1. Change of BANKNIFTY Futures and Options expiry day from existing Thursday to Friday.
2. The above shall be effective from the trade date of July 07, 2023, Friday and accordingly, all existing contracts with Thursday expiry will be revised to Friday, July 06, 2023, EOD.
3. The first Friday expiry will be on July 14, 2023.
4. The Table with the changes in the expiry day of the derivatives contract on BANKNIFTY has been inserted
• Other important instructions:
1. At EOD of July 06, 2023, the expiry date and maturity date for all existing futures and options contracts Friday table:
a. If the expiry/maturity date of the existing contract maturing on July 13, 2023 (Thursday) will be postponed to July 14, 2023 (Friday).
b. The expiry/maturity date of the existing contract maturing on the last Thursday of the month i.e. August 31, 2023 (Thursday) will be preponed to August 25, 2023 (Friday) of the respective current expiry month.
2. 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.
3. Members are requested to note that there is no other change in the existing contract specifications of BANKNIFTY.
4. The settlement schedule shall be intimated separately by Clearing Corporations.
The circular shall come into effect from the 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 the extranet path faoftp/faocommon before trading on July 07, 2023.
[Notification No. NSE/FAOP/56967]
