BSE updates 31 August-6 September 2026: ETF norms and CAS rules

SEBI ETF norms on base price, price bands, pre-open call auction and close-out now take effect on 7 September. Overnight and liquid ETF shortages that cannot be auctioned close out at the higher of the highest cross-exchange price or 5 percent above the auction-day settlement price.

• Record 1: Extension of timeline for implementation of provisions of SEBI Circular dated June 15, 2026 on norms for base price, price bands, call auction in pre-open session and close-out procedure for Exchange Traded Funds (ETFs)
• Record 2: Norms for Base Price, Price Bands, Call Auction in pre-open session and Closeout procedure for Exchange Trade Funds (ETFs)
• Record 3: Close-Out Procedure for Shortages in Overnight ETFs and Liquid ETFs

Closing Auction Session SOP now covers index futures as well as stock futures, with a plus or minus 3 percent band from 3:15 p.m. to 3:40 p.m., effective 7 September.

• Record: Introduction of Closing Auction Session (CAS) in the Equity Segment – Standard Operating Procedure Update

Software vendors supplying ETI, IBT, STWT, API and back-office systems must obtain STQC under SEBI CSCRF. Existing vendors must file certificates by 28 February 2027.

• Record: Standardization Testing and Quality Certification (STQC) and other compliance requirements for Software Vendors as per Cyber Security and Cyber Resilience Framework (CSCRF) of SEBI

Investment Advisers and Research Analysts must complete the FY 2025-26 annual compliance audit by 30 September. File reports only through the exchange portal once it opens.

• Record 1: Important Notice: Conduct of Annual Compliance Audit FY 2025-26 for Investment Advisers
• Record 2: Important Notice: Conduct of Annual Compliance Audit FY 2025-26 for Research Analysts

Trading members must file the digital-platform accessibility audit and remediation report on BEFS by 31 October.

• Record: Submission of Accessibility Audit report for Digital Platforms