Stock Market Open For Trading Tomorrow: Should Investors Worry If Their Trades Get Cancelled At Zerodha?

Indian stock market will be open for trading on Saturday in the first half of the day. This is due to the direction of market regulator Sebi on the switchover of the trading system to the Disaster Recovery (DR) Site. However, leading brokerage Zerodha has notified that there are chances your trades may get cancelled tomorrow.

In its notification, NSE said, Members are requested to note that Exchange shall be conducting a special live trading session with the intra-day switch over from the Primary site to the Disaster Recovery site on Saturday, January 20, 2024, in Equity and Equity Derivatives segments."

Zerodha also released a guideline for its investors on Friday. It said any F&O credits (i.e. premium from options sold, marked-to-market profit, intraday profits, etc.) and intraday equity profits from January 19th will not be included in the available funds during the special trading session due to the settlement holiday. Meanwhile, you will be able to check these credits in your Console ledger.

Further, Zerodha said this is the first time that the Stock exchanges are switching trading sites from their primary sites to the disaster recovery (DR) site during a live trading session. We have been informed by the Stock exchange through a circular, that there is a possibility of executed trades getting cancelled, during the transition phase of switching from the primary to the DR site.

"Should such a situation occur, your closed positions during the first session will be reopened after which you will need to exit the position again in the second session" Zerodha added.

Apart from this, Zerodha also highlighted the following for the special trading session:

1. Currency and Commodity (MCX) markets will stay closed.

2. MIS/CO (Intraday)** orders will be blocked for both sessions.

3. BTST (T1 sell) orders for T2T stocks will be blocked.

4. GTT orders will not be triggered.

5. AMO orders placed after markets on Friday, 19th January will be triggered on Saturday, 20th January 2024.

6. SIP orders on Kite will not be executed during the Special trading session. The scheduled SIP orders on 20th January will be placed on the next trading day.

7. Profits and credits received from equity trades or exiting positions in the derivatives segment (F&O and CDS) on 19th January 2024, will be available for withdrawal on 22nd January 2024 by EOD.

8. Withdrawal requests placed on 20th January 2024 will be processed on 22nd January 2024.

9. Zerodha's support lines will be operational from 9 AM to 2 PM.

Click the link below to check the timings of this special trading session:

NSE also said, securities and futures contracts will revert to the regular price band structure / DPR% / dummy bands & flexing mechanism from the next trade date. The closing price for the day shall be arrived at as per the existing rules for a normal trading day. All the outstanding orders shall be purged before the start of trading from the DR site. Members using NNF software should clear the outstanding orders of session 1 in their systems before trading from the DR site.

Further, in a Live trading session conducted from the DR site, orders from colocation shall be routed from the Primary site to the DR site. Similarly, the dissemination shall be done from the DR site to the colocation racks in the Primary site.

Lastly, Sebi said, all trades executed shall result in settlement obligations. The risk management, clearing and settlement-related details with respect to the trading activity of January 20, 2024 shall be communicated separately by the respective clearing corporations.