Sebi chief Tuhin Kanta Pandey says CAS here to stay, will study rollout concerns

Sebi Chairman Tuhin Kanta Pandey on Monday said the Closing Auction Session (CAS) is here to stay, even as the regulator reviews concerns raised by traders and other market participants over the new system.

Pandey said Sebi first needs to understand the “deformities” in the implementation of CAS and determine how they can be addressed. The concerns, he said, are largely around legacy systems that have not yet been updated for the new closing auction framework.