OTCEI

The Exchange has decided to extend its trading duration and operate in two discrete sessions, viz., the normal market session and the OHM (OTCEI Hi-Trade Market) session from January 19, 2001. The two sessions would be synchronised and constitute a single trading day.

The shares presently allowed for trading on OASIS (OTCEI Automated Securities Integrated System) in both the sessions include over 400 highly liquid top BSE /NSE Scrips.

Frequently Asked Questions

What is the OHM Session?

The OTCEI Hi-Trade Market (OHM) session is an evening session operating from 4.30 p.m. to 7.30 p.m.

What is the market schedule on OTCEI?

The Normal Market session: 10.00 a.m. to 3.30 p.m. One Hour Cooling off Pause / Break: 3.30 p.m. to 4.30 p.m. The OHM Session: 4.30 p.m. to 7.30 p.m.

The cooling off pause/break is intended to enable the participants who are also members of other exchanges to process trades and other back-office related work for business carried out on those exchanges during the day.

Does the Normal Market session and the OHM session constitute a single market day?

Yes.

Which securities are available for trading in the OHM session?

The OHM session is only an extension of the market duration and the business rules of the normal market session will also be applicable to the OHM session in its entirety. In effect, the highly liquid top-line stocks including all the BSE ‘A’ Group scrips and the most of the volume grosses on both BSE as well as NSE is available for trading in both the sessions of the OTCEI.

What are the price-bands applicable for the OHM session?

The price band is based on the closing prices of the previous trading day. The price band in the Normal market session is also applicable to the OHM session i.e. from 10.00 a.m. to 7.30 p.m. as it constitutes a single trading day.

What is the settlement period?

The rolling settlement cycle, viz., T+2 is applicable for trades executed during the OHM session. The clearing banks of OTCEI are, HDFC Bank, Canara Bank & UTI Bank.

What is the clearing procedure applicable to the OHM session?

The existing clearing and settlement procedures would remain applicable for the OHM session as well. The clearing of trades is through NSCCL.

When will auction take place?

The Auction market is conducted between 7.45 p.m. and 8.30 p.m.

When would the margin obligation download be available?

It could be accessed through the FTP server between 9 p.m. and 9.30 p.m.

When is the margin payable?

The margins are payable on T+1 basis. The download of margin reports will be over by 9.30 p.m. on the trading day.

Are the positions of the normal trading period clubbed with the OHM session?

Yes.

Is there any pre-open time in OHM session?

No.

Are the pending orders in the normal session carried forward to the OHM session?

Yes

Is the Additional Base Capital accepted during the OHM Session for the exposure limits?

Yes. Sufficient funds should be available in the accounts of members/dealers with the clearing bank.

Are the order.txt and trades.txt files (for on-line back-up) available on the next day of trading?

In case of no auction in respect the concerned member/dealer, the orders/trades file can be extracted at 7.35 p.m. on the day of trade. In case of auction, the relevant orders/trades data can be extracted at the close of the auction market or by 8.30 p.m. whichever is earlier.

The on-line back-up files (orders/trades) can also be picked in the form of a report file before the commencement of the normal market session on the next trading day.

Are new members/dealers admitted as members/dealers on the Exchange?

Yes.

How is the trade data published?

The trade statistics would be released to the print media and the electronic print media after the close of the trading session at 7.30 p.m.

What are the other advantages of the OHM session?

1. Additional trading hours to complement the existing positions.

2. Efficient price discovery platform in the after-hours for the breaking news.

3. Convergence with the European bourses and the futures market of NASDAQ.

4. Dissemination of the continuous market information during the extended hours.

5. Arbitraging opportunity between exchanges.