SEBI vide Circular SEBI/DNPD/Cir-48/2009 dated November 13, 2009 has decided to allow flexibility to the Stock Exchanges to set the expiry date / day for equity derivative contracts. SEBI has advised stock exchanges to ensure that there is no change in the contract specifications or the risk management framework, while doing so.
Currently equity derivative contracts expire on the last Thursday of every month or a day earlier if the last Thursday is a holiday.
A copy of the circular is available here.
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