NSE Introduces Revised Expiry Days For Monthly And Quarterly Nifty Bank Contract Cycles, Effective From March 01, 2024

NSE Introduces Revised Expiry Days For Monthly And Quarterly Nifty Bank Contract Cycles, Effective From March 01, 2024

According to the revised expiry day, NSE said, all the current contracts will expire on the last Wednesday of the expiry month. If Wednesday falls on a trading holiday, the expiry will be on the preceding trading day.

Oliviya KunjumonUpdated: Friday, December 29, 2023, 11:25 AM IST
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NSE Introduces Revised Expiry Days For Monthly And Quarterly Nifty Bank Contract Cycles | Image: Wikipedia (Representative)

The National Stock Exchange (NSE) on Thursday announced a change in the expiry days of the monthly and quarterly contract cycle for Nifty Bank (BANKNIFTY).

Effective from the trade date of March 01, 2024, Friday, there will be a revision in the expiry day for Nifty Bank Monthly and Quarterly Contract cycles. The change shifts the expiry day from the current Thursday to Wednesday.

"There will be no change in the expiry dates for the monthly expiry contracts of January 2024 and February 2024. The expiry day for all existing contracts available on March 01, 2024, will be preponed from February 29, 2024," NSE said in a circular.

According to the revised expiry day, NSE said, all the current contracts will expire on the last Wednesday of the expiry month. If Wednesday falls on a trading holiday, the expiry will be on the preceding trading day.

New expiry cycle in trading market

The upcoming far monthly expiry cycle for May 2024 is set to commence, with an expiry date scheduled for May 29, 2024 (the last Wednesday of the expiry month). The initial monthly expiry falling on a Wednesday is slated for March 27, 2024.

Revised Contract Expiry Dates Effective from March 01, 2024

As of the end of February 29, 2024, all existing contract expiry and maturity dates will be rescheduled to Wednesdays, following the revised expiry dates. Any new contracts created for trading after February 29, 2024, will adhere to these adjusted expiry days. There are no other modifications to the current specifications of BANKNIFTY contracts, NSE said via the circular.

The details regarding settlement schedules will be communicated separately by Clearing Corporations. This circular will be effective from the end of February 29, 2024, and the revised contracts will be available for trading starting March 01, 2024. Members are strongly advised to obtain the updated contract files from the specified extranet path "faoftp/faocommon" before engaging in trading on March 01, 2024, it added.

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