BSE plans call-auction for stocks

 The move would help in cutting down high level of volatility and attracting investors towards the exchange. Pre-open call auction to start from April 4 in all securities that are traded exclusively on its platform.

Both BSE and NSE began pre-open call auction facility in the stocks comprising their benchmark indices Sensex and Nifty from October 18, 2010. The pre-open call auction begins at opening time at 9 am every day and continues for 15 minutes. During this time, all buy and sell orders for eligible stocks are collected and trading price is determined on the basis of the overall buy-sell basket, rather than the normal practice of a price being determined after matching individual buy and sell orders.

In first 15 minutes, investors can place orders for eight minutes on the basis of which the exchanges will determine the rates at which trading will happen. About 2,500 securities are listed on both BSE and NSE.

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