Exchanges, brokers rise on report regulator to partly reverse derivative settlement rules
BUZZ-Exchanges, brokers rise on report regulator to partly reverse derivative settlement rules ** Exchange operators BSE BSEL.NS and National Stock Exchange of India NSEI.BO up 2.1% and 1.6%, respectively
** Brokerage firms Motilal Oswal MOFS.NS and Angel One ANGO.NS rise 2% and 1.7%, respectively
** Nifty Capital Markets index .NIFTYCAPITALMKT up 1.3%
** India's markets regulator is likely to stop using closing auctions to calculate derivatives settlement prices for at least a year, Reuters reported on Monday citing sources
** The new method, implemented from August 3, led to sharp swings and triggered a drop in derivatives trading volumes
** ICICI Securities says proposed change could be viewed positively for exchange and market intermediaries amid anticipation of recovery in volumes
** YTD, capital markets index up 11.8% vs benchmark Nifty 50's .NSEI 13.5% drop
(Reporting by Vivek Kumar M)
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Exchanges, brokers rise on report regulator to partly reverse derivative settlement rules