SEBI's F&O expiry settlement changes could address key CAS concerns; deeper cash market reforms needed: Kotak

The Securities and Exchange Board of India’s (SEBI) proposed changes to the settlement of futures and options (F&O) contracts could address a key concern over the reliance on the Closing Auction Session (CAS) to determine expiry prices, but deeper cash-market participation will be needed to make the auction mechanism more robust, according to a report by Kotak Institutional Equities.

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