Availability of Negative Price levels feature in Exchange Trading System for Commodity Derivatives Segment
-BSE CIRCULAR 20200428-6 Dt 28APR2020
Contains of circular:
This is pursuant to recent global developments in the crude oil derivatives markets where trading of derivatives contracts happened at negative prices owing to various underlying factors. It is hereby informed to all Trading Members of Commodity Derivatives segment that Exchange’s BOLT Plus trading system has been modified to accept orders and execute trades at negative prices. Accordingly, existing versions of trading system APIs – ETI as well as IML APIs will also support trading activity at negative price levels. To facilitate testing of this feature in the simulation (test) environment, trading price range of Brent Crude Oil futures contracts shall be suitably updated to accept orders at negative price levels and execute trades. Accordingly, Trading Members and front-end trading application vendors shall be able to place test orders and trade in these contracts at those price levels. This will help members in checking the readiness of their internal systems and make suitable modifications, if any required. The above-mentioned feature shall be enabled in the simulation environment and made available to members/vendors to test from Monday, May 4, 2020 onwards. To facilitate the same, updated test contract master and price band files shall be made available to members on the Exchange website on the following weblink BOLT Plus Test Environment → BSE Commodity Derivatives Segment – Test Environment Setup
How will Zerodha handle changes in trading platform as such thing has not been seen in India markets! How long might is take to go for testing and then live timeline estimate of possible?