The National Stock Exchange has once again decided to change the expiry day of BANKNIFTY, a popular product on the exchanges. Henceforth, weekly index options expiry has been shifted from existing Thursday to Wednesday. “It will be applicable for Futures and Options across all expiries (weekly, Monthly and Quarterly),” it said in a circular.
It may be recalled that in May NSE had earlier announced similar announcements on Bank Nifty to shift expiry day from Thursday to Friday from mid-July.
“The first Friday expiry was to be on July 14.” It had then said.
However, the leading bourse withdrew that plans to shift the Nifty Bank derivative contracts expiry to Friday from Thursday after BSE shifted the expiry of Sensex and Bankex derivative contracts to Friday following the relaunch of the indices. “In a joint statement, the exchanges said, “Considering the need for balanced market development and avoidance of concentration risk in the market, BSE has requested NSE to consider shifting the Bank Nifty expiry to any day other than Friday,” the exchanges had said.
In a circular on Wednesday, NSE said all existing weekly contracts with Thursday expiry will be revised to Wednesday on September 1, 2023, EOD The first WEDNESDAY weekly expiry will be on September 6, 2023.
The changes shall be effective from trade date September 4, 2023 Monday and accordingly, all existing weekly contracts with Thursday expiry will be revised to Wednesday on September 1, 2023 EOD, the circular added.
Midcap Nifty to Mondays
Similarly, the expiry day of derivatives contract on MIDCPNIFTY has been shifted to Monday from Wednesday. It will be applicable for Futures and Options across all expiries of weekly & Monthly.
“At EOD of August 16, 2023, the expiry date and maturity date for all existing futures and options contracts will be revised/preponed to ‘Monday’ as per revised expiry dates as mentioned in the aforesaid table. For e.g. the expiry/maturity date of existing contract maturing on August 23, 2023 (Wednesday) will be preponed to August 21, 2023 (Monday). The first Monday expiry will be on August 21, 2023, NSE circular said.