Sebi to Expedite CAS Framework After Receiving 3,500+ Comments

The Securities and Exchange Board of India (Sebi) is preparing to issue a comprehensive framework governing changes to the Closing Auction Session (CAS) mechanism following an extensive public consultation period. Sebi Chairman Tuhin Kanta Pandey indicated on Saturday that the regulator would move swiftly to examine the responses and proceed with finalising its approach.

Sebi had invited public comments on its proposals to review certain aspects of the CAS, market timings, and settlement methodology for derivative contracts. The consultation process drew over 3,500 submissions from market participants and other stakeholders, underscoring significant industry interest in the proposed modifications.

Pandey stated that the regulator would not require substantial time to compile and analyse the responses, attributing this efficiency to the clarity of Sebi's underlying proposals. "We will actually quickly look at all these comments and go ahead, because I think our proposals are quite clear," he said at an event organised by the Commodity & Capital Market Participants Association of India.

The remarks came on the final day for submitting comments, indicating that Sebi is positioned to move into the implementation phase of its market structure review. The regulator's intention to expedite the process reflects its determination to bring clarity to market operations and enhance the functioning of India's securities markets.