The Bombay Stock Exchange (BSE) on September 04, 2026, notified regarding the Norms for Base Price, Price Bands, Call Auction in pre-open session and Closeout procedure for Exchange Trade Funds (ETFs).
The Exchange has announced revised parameters for Exchange Traded Funds (ETFs), effective September 7, 2026, in continuation of its earlier notices dated June 16 and August 28, 2026.
Base Price: The base price for price-band determination will be the T-1 day closing price, based on the last 30-minute VWAP. If there is no trading during the last 30 minutes, the day's LTP will apply; if there is no trade on T-1, the latest available closing NAV will be used.
Equity & Debt ETFs: Initial price band of ±10%, which may be flexed up to ±20% after a cooling period. There will be no upper/lower cap or limit on the number of flexing instances during the session.
Overnight & Liquid ETFs: Fixed price band of ±5%.
Commodity ETFs (Gold/Silver): Dynamic initial price band of ±6%, with further flexing by 3% of the base price after a cooling-off period.
Pre-Open Session: A call auction pre-open session will be introduced for Gold and Silver ETFs.
Testing: The revised parameters were made available for testing during the mock trading session on September 5, 2026.
Close-Out for Overnight & Liquid ETFs: The close-out price will be the higher of (a) the highest price recorded in the relevant settlement period up to the auction/close-out date, or (b) 5% above the latest available exchange closing price on the day auction offers are called.
[Notice No. 20260904-19]
