Soon, weekly Bank Nifty F&O contracts will expire on Wednesday, Midcap Nifty on Monday; NSE announces dates

National Stock Exchange on Wednesday announced that from September Bank Nifty Futures & Options (F&O) contracts will expire on Wednesday and from late August, Midcap Nifty F&O contracts will expire on Monday. 

From trade date September 4, 2023 Monday and accordingly, all existing weekly Bank Nifty contracts with Thursday expiry will be revised to Wednesday on September 1, 2023. The first Wednesday weekly expiry will be on September 6, 2023, said NSE. However, there's no change in expiry day for monthly contract, which will continue to be Thursday.

"All weekly contracts shall expire on Wednesday of every week excluding the expiry week of the monthly contract. If Wednesday is a trading holiday, then the expiry day is the previous trading day," said NSE.

"There is no change in trading cycle i.e BANKNIFTY will continue to have 4 weekly expiration contracts (excluding monthly contracts), 3 monthly expiration contracts and 3 quarterly expiries (March, June, Sept & Dec cycle)," added NSE.

In the case of Midcap Nifty, all weekly and monthly contracts shall expire on Monday. If Monday is a trading holiday, then the expiry day is the previous trading day. 

"At EOD of August 16, 2023, the expiry date and maturity date for all existing futures and options contracts will be revised/preponed to 'Monday'. For e.g. the expiry/maturity date of existing contract maturing on August 23, 2023
(Wednesday) will be preponed to August 21, 2023 (Monday). The first Monday expiry will be on August 21, 2023," said NSE about Midcap Nifty F&O contracts. 

Expiry cycle for August 16, 2023 will continue to be on Wednesday only.

Recently, NSE scrapped its plan to shift expiry day for F&O contracts of Nifty Bank to Friday from Thursday.

This came after rival exchange BSE requested NSE to consider shifting the Nifty Bank expiry to any day other than Friday for balanced market development.