The National Stock Exchange has shifted the settlement day from Thursday to Tuesday for its FinNifty (Nifty Financial Services Index) for both monthly and weekly derivative contracts. However, there is no change in other contracts such as Nifty futures and options, stock futures and options and on other indices and they will continue to be settled on last Thursday of every month.

According to NSE, all weekly and monthly contracts on FinNifty will expire on Tuesday. “If Tuesday is a trading holiday, then the expiry day is the previous trading day,” the circular added. In a circular, the NSE on Wednesday said: “Trading in weekly index futures of FinNifty contracts shall be discontinued. Accordingly, no new FinNifty weekly index futures shall be introduced from October 14, 2021 (end of the day). Weekly futures contracts of FinNifty created till October 14, 2021, shall continue to available for trading till respective expiry dates/maturity dates”.

However, weekly FinNifty options contracts will continue to be available. “Members are requested to note that there is no other change in the existing contracts specifications of FinNifty”.

However, some traders are apprehensive of the move. According to them, this will create unnecessary confusion while trading. Uniform settlement day will be easy to follow by traders, they added.