The Securities and Exchange Board of India (SEBI) has finalised its framework for expiry days of equity derivatives, directing exchanges to seek fresh approval for their preferred expiry schedule.
In a circular issued on Monday, the regulator stated that each exchange will be permitted only one weekly benchmark index options contract, to expire on either a Tuesday or a Thursday.
Currently, the NSE has weekly F&O expiry on Thursdays, while the BSE holds its expiry on Tuesdays. Under the new rules, other equity derivatives contracts will expire in the last week of each month, on the exchange’s chosen weekday — either Tuesday or Thursday.
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SEBI said this decision follows its March 27 consultation paper proposing fixed expiry days to reduce overlap and improve market efficiency.
The regulator also made it mandatory for exchanges to obtain prior approval before making any further changes. Proposals must be submitted by June 15, 2025.