The Securities and Exchange Board of India (SEBI) has recently announced that the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will function as alternative trading venues for each other starting from April 1, 2025.
In a circular issued on November 28, SEBI has outlined that both exchanges will work together to create a joint Standard Operating Procedure (SOP). This SOP will provide detailed guidelines on how to handle outages at either exchange, including the flow of activities and the roles and responsibilities of all parties involved.
The exchanges are required to submit this SOP to SEBI within 60 days of the circular's release.