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"We are talking to participants about the concerns. We are analysing the issues and will soon come with a view," Pandey said on the sidelines of Sebi's Symposium on Cyber Defence event held in Mumbai. He reiterated that CAS is here to stay and is looking at concerns raised by traders and other market participants before deciding whether any changes are needed.
The CAS replaced the earlier practice of determining the closing prices based on the average price of trades in the final 30 minutes of regular trading.
Since August 3, the closing prices of 200-odd stocks in the futures and options (F&O) segment have been determined through an auction process lasting about 20 minutes - from 3.15 pm to around 3.35 pm. The move is aimed at making the closing rates less susceptible to the impact of large, price-distorting last-minute orders.
The new mechanism, however, has sparked uncertainty, as losses in F&O trades have sparked protests from traders and other market participants.
Read more:Sebi chairman says cyber defence must move from IT issue to boardroom priority
Pandey said Sebi's consultation paper on the securities lending and borrowing mechanism (SLBM) is expected "very soon".
Sebi has formed a working group to review the nearly two-decade-old framework. The review is aimed at improving the link between the cash and derivatives markets, strengthening price discovery and reducing settlement-related pressure. Under SLBM, investors can lend their shares to other investors for a fixed period in return for a fee. Borrowers can use these shares for short selling or other market-related needs.
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(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price