The National Stock Exchange has revised the day of expiry for Nifty Bank futures and options contracts to Fridays from Thursdays, the bourse said in a circular on Tuesday.
The revision will come into effect on July 7, NSE said. All existing contracts with a Thursday expiration date will be revised to Friday by the end of the day on July 6. The first Friday expiration will be on July 14, it said.
All weekly contracts will expire on the Friday of every week, whereas monthly contracts will expire on the last Friday of the respective month. Any new contracts created after July 6 will expire on Friday. The expiration day will be the previous trading day if Friday happens to be a trading holiday.
"At end of day of July 06, the expiry date and maturity date for all existing futures and options contracts will be revised/postponed to 'Friday' as per the revised expiry dates," the circular read.
The exchange clarified that there is no other change in the existing contract specifications of Nifty Bank. Clearing corporations have been instructed to declare the settlement schedule separately.
NSE retained the title of the world's largest derivative exchange in 2022, according to data maintained by the Futures Industry Association.
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