Circuit Breakers

The index-based market-wide circuit breaker system applies at 3 stages of the index movement, either way viz. at 10%,
15% and 20%. These circuit breakers when triggered bring about a coordinated trading halt in all equity and equity
derivative markets nationwide. The market-wide circuit breakers are triggered by movement of either the BSE Sensex or the
Nifty 50, whichever is breached earlier.
The market shall re-open, after index-based market-wide circuit filter breach, with a pre-open call auction session. The
extent of duration of the market halt and pre-open session is as given below:

Exchange shall compute the Index circuit breaker limits for 10%, 15% and 20% levels on a daily basis based on the
previous day's closing level of the index.
The New York Stock Exchange (NYSE) is the biggest marketplace in the world for investors to buy and sell
shares of stock. Located on Wall Street in New York City and owned by Intercontinental
Exchange (NYSE:ICE), the NYSE has a history that goes back more than 200 years. Most of the largest,
best-known, and most prestigious businesses in the world choose to list their shares on the stock exchange.

The New York Stock Exchange is generally open on weekdays and is closed on Saturday and Sunday.
Trading begins each day at 9:30 a.m. ET and ends at 4 p.m. ET.
Functioning of New York Stock Exchange (NYSE):

The New York Stock Exchange has two primary functions:

•It provides a central marketplace for investors to buy and sell stock.
•It enables companies to list their shares and raise capital from interested investors.

The NYSE provides a location where its members can trade stock in listed companies. Historically, traders called out their
buy or sell orders to each other on the exchange trading floor. When a buyer and a seller agreed on a price, a trade would
occur. Transactions would then be reported on the exchange, providing transparency and enabling efficient market
operations.

Now, with electronic trading, NYSE-run computers are largely responsible for matching up buyers and sellers in real time.
However, the system still operates in a similar fashion, with investors placing orders stating at what price they'd be willing
to buy or sell.

Most investors aren't members of the NYSE, but many of the brokerage companies that allow them to invest in stocks are.
When a brokerage customer places a trade for a NYSE-listed stock, the brokerage company relays the order to its NYSE
trading operations, which then handle executing the trade and following the customer's instructions.

The NYSE also acts as a gateway for companies that want to raise money by selling stock. Companies that want to list
their stock on the NYSE have to meet both the U.S. Securities and Exchange Commission’s disclosure requirements for
publicly traded companies and the specific listing requirements the NYSE imposes. Young companies often seek to have
their initial public offerings on the NYSE in order to gain the prestige of having their shares traded alongside those of
many of the top companies in the world.
The Nasdaq Stock Market, or simply Nasdaq, is the second-largest stock exchange in the world for investors looking to buy
and sell shares of stock. Nasdaq was initially an acronym, NASDAQ, which stands for the National Association of Securities
Dealers Automated Quotations.
It opened on Feb. 8, 1971, providing automated information about stock prices that investors could use to trade stocks on
other exchanges.
Eventually the Nasdaq became the world's first electronic stock market, taking over trading for many stocks that had
previously traded in places other than formal stock exchanges.
Now the Nasdaq has formal listing requirements that companies have to meet in order to list their shares on its stock
exchange. The Nasdaq has become the largest global exchange to rely solely on electronic trading.

Some investors also use the term the Nasdaq to refer to the Nasdaq Composite Index, an index of the stocks listed on the
Nasdaq Stock Market.

Many of the world's largest businesses are among the more than 3,000 companies that list their shares on the Nasdaq.

Nasdaq has embraced technological innovation in its trading platform. The stock exchange has attracted many of the world's
leading companies in technology, as well as companies in other cutting-edge industries like biotechnology.

In 2008 the Nasdaq Stock Market merged with Scandinavian exchange operator OMX ABO. The resulting company was
called Nasdaq OMX Group.

In addition to stocks, Nasdaq-operated exchanges also enable investors to trade in bonds, commodities, exchange-traded
funds, and other more sophisticated investments.
HISTORY
The Nasdaq was established to provide an electronic alternative to the prevailing structure of stock exchanges, which
involved having live traders on a trading floor to collect and execute orders to buy and sell shares of stock. However, the
Nasdaq didn’t initially have investors directly trading any stocks. Instead, it used an automated information-gathering process
to provide the latest prices for stock trades conducted elsewhere. From there the Nasdaq got more involved in the trading of
stocks that weren't listed on the New York Stock Exchange or other established stock exchanges. These stocks, known as
over-the-counter stocks, became the Nasdaq's first focus, and some investors still refer to the Nasdaq as an over-the-counter
market.

Once the internet came into being, the Nasdaq became the first stock exchange with its own website, and it was the first to
allow online trading. The Nasdaq has also embraced cloud computing, using cloud-based solutions to store required
regulatory documentation and other data.