BSE vs NSE expiry day war is over. But for investors, the battle lines just shifted
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The expiry day war between India’s two stock exchanges has finally drawn to a close, and it’s the National Stock Exchange (NSE) that may have emerged as a clear winner. In a high-stakes regulatory shake-up, SEBI has now fixed the expiry days for equity derivative contracts to just Tuesdays and Thursdays, ending months of tit-for-tat expiry day changes between NSE and BSE. In line with this directive, NSE will move its weekly expiry to Tuesday, while BSE will shift to Thursday, starting September 1, 2025. But behind this seemingly administrative change lies a fierce contest for trader mindshare, options liquidity, and revenue, and BSE may have just lost a critical edge. “This change significantly benefits NSE, which will now enjoy three full days (Friday, Monday, and Tuesday) of heightened options trading activity leading up to its expiry — a key period for premium buildup and speculative action,” said SBI Securities’ Head of Technical ...