Mumbai, Sept. 12 -- The Securities and Exchange Board of India (SEBI) has proposed a review of the Closing Auction Session (CAS), market timings and settlement methodology for derivatives contracts following the initial experience with the new closing price discovery mechanism.

CAS was introduced in the equity cash segment for stocks with available derivatives contracts from 3 August 2026. Before CAS, the closing price was determined using the volume-weighted average price (VWAP) of trades executed during the last 30 minutes of the Continuous Trading Session (CTS).

Under CAS, the closing price is determined through an equilibrium price discovery mechanism based on the aggregate buy and sell orders in the order book during the auction. ...