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Periodic Call Auction for Illiquid Securities Introduced by SEBI

It is worth checking a circular issued by NSE, BSE and SEBI for periodic call auction for illiquid securities. Check out below screenshot which provides gist of the circular.Periodic Call Auction for Illiquid Securities

A small ready reckoner on "Periodic Call Auction for Illiquid Scrips" for your quick reference is listed below and you can also refer to the complete NSE circular attached above.
Where do I see the list of illiquid securities? List of illiquid securities available on website and also in security.txt
When is the list reviewed? Every quarter
No. of sessions and details 6 sessions at an interval of one hour starting from 9:30 Hours.First 45 minutes for order entry, order modification and order cancellation
Random closure between 44th& 45th minute,
Next 8 minutes shall be for order matching & trade confirmation.

Timings

  • 9.30-10.30*

 

  • 10.30-11.30
  • 11.30-12.30
  • 12.30-13.30
  • 13.30-14.30
  • 14.30-15.30
How do we place order? Symbol, Series, Market type ‘G’ instead of N, Quantity, Limit Price & Pro/Cli.
What happens to unmatched orders Cancelled at the end of each session
What information can I see during call auction
  • Indicative equilibrium price of the scrip
  • Indicative volume executable
  • Indicative cumulative buy and sell quantity of the scrip
  • Is there any change in Settlement & Risk management
Same as normal market
 
*On the day of new listing / Re-listing, first call auction session for illiquid shall be conducted at 10.30am instead of 9.30.

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