𝗡𝗦𝗘 𝗷𝘂𝘀𝘁 𝗰𝗵𝗮𝗻𝗴𝗲𝗱 𝗵𝗼𝘄 𝗙&𝗢 𝗼𝗽𝗲𝗻𝘀 𝗳𝗼𝗿𝗲𝘃𝗲𝗿. A 15-minute reform that will reshape trading behavior from Dec 8 2025. 𝗛𝗲𝗿𝗲’𝘀 𝘁𝗵𝗲 𝗯𝗿𝗲𝗮𝗸𝗱𝗼𝘄𝗻 𝗲𝘃𝗲𝗿𝘆 𝘁𝗿𝗮𝗱𝗲𝗿 𝗺𝘂𝘀𝘁 𝗿𝗲𝗮𝗱 👇 𝟭. 𝗧𝗵𝗲 𝗦𝗵𝗶𝗳𝘁 For the first time ever, NSE will start a Pre-Open Session in the F&O segment. 9:00 – 9:15 AM. A 15-minute auction before the market opens. 𝗧𝗵𝗶𝘀 𝗶𝘀 𝘄𝗵𝗲𝗿𝗲 𝘁𝗵𝗲 𝗿𝗲𝗮𝗹 𝗽𝗿𝗶𝗰𝗲 𝗱𝗶𝘀𝗰𝗼𝘃𝗲𝗿𝘆 𝘄𝗶𝗹𝗹 𝗵𝗮𝗽𝗽𝗲𝗻 𝗯𝗲𝗳𝗼𝗿𝗲 𝘆𝗼𝘂 𝗲𝘃𝗲𝗻 𝗰𝗹𝗶𝗰𝗸 “𝗕𝘂𝘆”. 𝟮. 𝗧𝗵𝗲 𝗧𝗶𝗺𝗲𝗹𝗶𝗻𝗲 🕒 9:00 – 9:08 AM → Order entry, modify, cancel ⚙ 9:08 – 9:12 AM → Order matching & trade confirmation ⏳ 9:12 – 9:15 AM → Buffer before normal session Your first trade at 9:15 AM will already have a discovered price behind it. 𝟯. 𝗪𝗵𝗮𝘁’𝘀 𝗜𝗻𝗰𝗹𝘂𝗱𝗲𝗱 ✅ Current-month futures (stocks + indices) ✅ Next-month futures during the last 5 days before expiry 🚫 Not applicable to Options or Spread contracts 🚫 Skipped on corporate-action ex-dates 𝟰. 𝗪𝗵𝘆 𝗜𝘁 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 💡 Smoother opens → less volatility 📊 Stronger liquidity → deeper order book 🔍 Transparent price discovery → fairer execution F&O will finally open like global derivatives markets - clean, calculated, credible. 𝟱. 𝗛𝗼𝘄 𝗜𝘁 𝗪𝗼𝗿𝗸𝘀 * Orders collected in a call-auction pool * Opening price = Equilibrium price where max volume executes * Unmatched limit orders carry forward to the regular session * No changes allowed during matching 𝗜𝗻 𝘀𝗵𝗼𝗿𝘁 → 𝘁𝗵𝗲 𝗼𝗽𝗲𝗻 𝘄𝗶𝗹𝗹 𝗯𝗲 𝗮𝘂𝗰𝘁𝗶𝗼𝗻-𝗱𝗿𝗶𝘃𝗲𝗻, 𝗻𝗼𝘁 𝗰𝗵𝗮𝗼𝘀-𝗱𝗿𝗶𝘃𝗲𝗻. 𝟲. 𝗥𝗶𝘀𝗸 𝗖𝗼𝗻𝘁𝗿𝗼𝗹𝘀 𝗦𝘁𝗮𝘆 𝗧𝗶𝗴𝗵𝘁 🛡 Margin validation before order acceptance ⚙ STPC (Self-Trade Prevention) active in pre-open 📉 Limit & Market Price Protection recalibrated using equilibrium pric