Sebi Chief Pandey Affirms Continuation of Auction System, Welcomes Feedback

Securities and Exchange Board of India (Sebi) Chairman Tuhin Kanta Pandey reaffirmed the continuation of the Closing Auction Session (CAS) during a recent meeting. He highlighted that Sebi is actively evaluating market participants concerns and considering potential enhancements to the current framework. Pandey noted that as more participants adopt the new CAS system, it is expected that some initial challenges will diminish over time.

He also pointed out that reliance on outdated processes limits the effective use of the Closing Auction Session, indicating a need for adaptation within the market. The introduction of the CAS has received positive feedback from industry stakeholders, who recognize it as a significant reform aimed at improving market efficiency and transparency.

In response to the evolving landscape, Sebi is committed to addressing ongoing participant concerns to ensure that the CAS meets the needs of the market effectively. The expected outcomes of these reforms include increased participation, better price discovery, and enhanced liquidity at market close.