| India's two major stock exchanges, NSE and BSE, are set to revise the expiry days for equity derivatives contracts following regulatory approval from SEBI. The move is aimed at reducing market-wide concentration of settlements and promoting smoother operations across trading platforms.
The National Stock Exchange (NSE) had proposed shifting the expiry day for its equity derivatives to Tuesday, and SEBI has approved this change. As a result, all new derivative contracts expiring on or after 1 September 2025 will have Tuesday as their expiry day. Existing contracts, however, will retain their current Thursday expiries. An exception has been made for long-dated index options, which the exchange may realign to follow historical practices. Until 31 August 2025, NSE will continue with Thursday as the expiry day for newly introduced contracts. From September, monthly contracts on NSE will settle on the last Tuesday of the month.
In parallel, BSE has opted to move its derivatives expiry from Tuesday to Thursday. This shift will also take effect from 1 September 2025, with contracts expiring on or after that date moving to a Thursday schedule. Like NSE, existing contracts on BSE will remain unaffected, except for long-dated index options. BSE will maintain Tuesday expiries for contracts maturing on or before 31 August 2025. Additionally, BSE will stop introducing new weekly index futures contracts from 1 July 2025 to facilitate the transition.
Both exchanges are expected to release detailed circulars in due course, outlining operational procedures and timelines.
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