AMN
The Reserve Bank today said it plans to set-up an internal group to comprehensively review timings of various market segments including currency futures and foreign exchange.
In a press release issued from Mumbai today, RBI said the group will submit its report by end of October this year. While admitting that the decision of market timings is best left to market participants and exchanges;
RBI said it is necessary that timings across products and funding markets complement each other and avoid unanticipated frictions. The apex bank said it has been receiving requests for extension of timings for certain market segments such as currency futures, Over-the-Counter foreign exchange market, etc.
Earlier, securities market regulator Sebi had permitted stock exchanges to set their trading hours in the equity derivatives segment between 9:00 am and 11:55 pm. Currently, trading is allowed from 9.15 am till 3.30 pm.