BSE, NSE to conduct mock trading session in OFS segment
BSE and NSE will conduct a mock trading session on Monday in the Offer for Sale segment following changes introduced by Sebi, whereby OFS window has been extended for one day. The session will be conducted to familiarise the participants with carry forward facility available to the unallocated bids of non-retail investors to T+1 day. T refers to the trading day of the OFS.
The move comes after BSE and NSE issued a new set of guidelines for bidding in the OFS segment. "Trading members and custodians are...informed that the exchange proposes to conduct mock trading session...for OFS module on February 22, 2016," BSE said in a circular. Separately, NSE said that "all the eligible trading members of the capital Market segment can participate in mock session...which shall be available from February 22, 2016 at 1000 hours onwards." Last week, Sebi agreed to the government's suggestion for cutting advance notice period for OFS to one day and allowed retail investors to place their bids a day later for such share sales.