The National Stock Exchange (NSE) on July 12, 2023, issued a circular regarding the revision of the Expiry Day of NIFTY BANK (BANKNIFTY) Index Options Weekly Contract Cycle.
This is in partial modification to item no. 1.14 of F&O consolidated circular NSE/FAOP/57264 June 23, 2023, regarding contract specification in Nifty BANK Index
The circular shall come into effect from the EOD of September 01, 2023, and revised contracts shall be available for trading from September 04, 2023.
The following has been stated namely: -
• It is to be noted that the Change of BANKNIFTY weekly index options expiry day from the existing THURSDAY to WEDNESDAY.
• The above shall be effective from the trade date of September 04, 2023, Monday, and accordingly, all existing weekly contracts with Thursday expiry will be revised to Wednesday, September 01, 2023, EOD.
• It states that the first WEDNESDAY weekly expiry will be on September 06, 2023.
• There is no change in the trading cycle i.e. BANKNIFTY will continue to have 4 weekly expiration contracts (excluding monthly contracts), 3 monthly expiration contracts, and 3 quarterly expiries (March, June, Sept & Dec cycles)
• It states that Any new weekly contract created for trading on/after EOD of September 01, 2023, shall be created as per the revised expiry days as mentioned in the table.
• The Members are requested to note that there is no other change in the existing contracts specifications of BANKNIFTY.
• The settlement schedule shall be intimated separately by Clearing Corporations.
• It is further advised to take the updated contract.gz file available on the extranet path faoftp/faocommon before trading on September 04, 2023.
[Circular No. NSE/FAOP/57540]
