BSE moves Bankex expiry to Monday; to be effective from Oct 16

The BSE has decided to move the expiry day of Bankex derivatives contracts from Friday to Monday, effective October 16, the bourse said on Wednesday.

“New contracts of S&P BSE Bankex with Monday expiry will be generated on October 13, 2023, and will be available for trading with effect from October 16, 2023,” the BSE said, citing the decision was based on the market feedback.

The expiry of Sensex derivatives contracts will continue to be on Friday.

The exchange had chosen Friday as the day for the expiry of its relaunch Sensex and Bankex futures and options (F&O) contracts to differentiate from market leader NSE.

The traded value of Bankex on the previous weekly expiry on August 25 stood at Rs 4 crore, up from Rs 1.7 crore a week earlier.

Over the last two months, NSE and BSE have been spreading the expiry days for their popular derivatives products across the week to shore up volumes.

As traders tend to be more active on expiry days, the move is believed to boost volumes.

The exchanges have earlier cited the reason for the shift to be for a balanced market development and avoidance of concentration risk.

NSE’s Nifty50 — the most traded among all derivatives indices — expires on Thursday, while the second-most popular contract Bank Nifty’s expiry is being moved to Wednesday from September 6.

It currently expires on Thursday.

Meanwhile, Nifty Financial Services (Fin Nifty) derivatives contracts expire on Tuesday.