The National Stock Exchange (NSE) has announced on Thursday that weekly derivatives options contracts on Nifty Bank, Nifty Midcap Select, and Nifty Financial Services will be discontinued. This decision by NSE has been taken to comply with the new rules issued by the Securities and Exchange Board of India (SEBI) earlier this month for trading in futures and options. SEBI had said that it will allow exchanges to offer weekly options expiries on only one index.

The final trading days for the Nifty Bank, Nifty Midcap Select, and Nifty Financial Services weekly options contracts will be November 13, 18, and 19, 2024 following which the contracts will be terminated. Nifty 50 will be the only weekly tradeable index on the NSE.

Earlier this month, the Bombay Stock Exchange announced that the weekly derivatives contracts of Sensex 50 and Bankex would be discontinued from November 14 and November 18, 2024. Only Sensex weekly derivatives contracts will be available for trading.

These moves follow SEBI’s directive issued on October 1, which had mandated exchanges to limit weekly options expiries to just one index per exchange, starting from November 20, 2024. The new regulations also require exchanges to monitor intraday positions at least four times daily and to impose penalties for breaches. SEBI had announced these series of reforms with an aim to enhance investor protection and market stability within the derivatives segment.