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On July 12, 2023, the National Stock Exchange (NSE) vide circular no. 119/2023 announced that w.e.f. 4th September 2023, the Weekly expiry day of Bank Nifty derivatives contracts shall stand revised to Wednesday instead of Thursday.
1. Weekly expiry of BANKNIFTY index options contracts has changed from existing THURSDAY to WEDNESDAY.
2. The above shall be effective from trade date September 04, 2023 Monday and accordingly, all existing weekly contracts with Thursday expiry will be revised to Wednesday on September 01, 2023 EOD.
3. The first WEDNESDAY weekly expiry will be on September 06, 2023.
4. The below are the changes in the expiry day of derivatives contract on BANKNIFTY
At EOD of September 01, 2023, the expiry date and maturity date for all existing weekly options contracts will be revised/preponed to Wednesday as mentioned in the aforesaid table
Any new weekly contract created for trading on / after EOD of September 01, 2023 shall be created as per the revised expiry days as mentioned in the aforesaid table.
BANKNIFTY will continue to have 4 weekly expiration contracts (excluding monthly contracts), 3 monthly expiration contracts and 3 quarterly expiries (March, June, Sept & Dec cycle).
Much like any other financial exchange, NSE periodically reviews and updates its policies and procedures to ensure the smooth functioning of the market and to address the evolving needs of market participants.
There may be several reasons behind the change according to us, including:
The contract expiries which will be available in BANKNIFTY index options on trading date of September 4, 2023 are given below
Contract
Current Expiry &
Maturity date
Revised Expiry & Maturity date
Remarks
Weekly 1
07-Sep-23
06-Sep-23
Revision
Weekly 2
14-Sep-23
13-Sep-23
Revision
Weekly 3
21-Sep-23
20-Sep-23
Revision
Monthly – Near Month
28-Sep-23
–
No Change
Weekly 4
05-Oct-23
04-Oct-23
Revision
Monthly – Middle Month
26-Oct-23
–
No Change
Monthly – Far Month
30-Nov-23
–
No Change
Quarterly 1
28-Dec-23
–
No Change
Quarterly 2
28-Mar-24
–
No Change
Quarterly 3
27-Jun-24
–
No Change
For more details, kindly click here to read the circular issued by the National Stock Exchange (NSE).
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