# 📢 Introduction of Pre-Open Session in Equity Derivatives (F&O) on NSE & BSE 

**URL:** <https://tradebetter.5paisa.com/t/introduction-of-pre-open-session-in-equity-derivatives-f-o-on-nse-bse/810>\
**Category:** General Announcements 🔊\
**Created:** [December 3, 2025, 11:41am UTC](https://tradebetter.5paisa.com/t/introduction-of-pre-open-session-in-equity-derivatives-f-o-on-nse-bse/810 "2025-12-03T11:41:21Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![Saurabh\_Shah](https://dub1.discourse-cdn.com/flex018/user_avatar/tradebetter.5paisa.com/saurabh_shah/32/891_2.png) [@Saurabh\_Shah](https://tradebetter.5paisa.com/u/Saurabh_Shah)\
**Post date:** [December 3, 2025, 11:41am UTC](https://tradebetter.5paisa.com/t/introduction-of-pre-open-session-in-equity-derivatives-f-o-on-nse-bse/810/1 "2025-12-03T11:41:21Z")

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Both **NSE** and **BSE** have announced the launch of a **Pre-Open Session for Index & Stock Futures** from **Monday, December 08, 2025**. This feature aligns the derivatives market closer to the equity market structure and helps bring smoother price discovery at market open.

Below is a summary of what changes for you as a trader.

**🔍 Applicable Exchange Circulars**

- **[NSE Circular](https://nsearchives.nseindia.com/content/circulars/FAOP71582.pdf)**: Circular Ref. No. **NSE/FAOP/71092** dated **Nov 03, 2025**

- **[BSE Circular](https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20251110-40)**: Notice No. **20251110-40** dated **Nov 10, 2025**

**🕘 Pre-Open Session Timings (Both NSE & BSE)**

| **Session** | **Timings** | **What Happens ?** |
| --- | --- | --- |
| Order Entry Period | 9:00 AM – 9:07/08 AM | Enter/modify/cancel orders. System-driven random closure between 7–8 minutes. |
| Order Matching & Confirmation | 9:08 AM – 9:12 AM | Opening price is determined; orders are matched. No modifications allowed. |
| Buffer Period | 9:12 AM – 9:15 AM | Transition to normal market. |

➡ **Normal F&O trading begins at 9:15 AM** as usual.

**📌 Where Is Pre-Open Applicable?**

Pre-Open will apply to **Futures contracts only** :

**✅ Applicable Contracts**

- **Current-month Index Futures**

- **Current-month Stock Futures**

- **Next-month Futures** (only in the last **5 trading days** before the current-month expiry)

**❌ Not Applicable To**

- All **Options contracts** (Index & Stock)

- **Calendar Spread / Spread contracts**

- **Far-month (M3) Futures**

- Futures on the **ex-date of a corporate action** due to scheme of arrangement

**📝 Order Types Allowed in Pre-Open**

**Allowed**

- **Limit Orders**

- **Market Orders**

- **IOC Orders** (BSE only; NSE does _not_ allow IOC)

**Not Allowed**

- Stop-Loss Orders

- Disclosed Quantity

- Any other special-condition orders

AMO Orders in F&O & Equity will be allowed to be entered till 8:55AM in the morning.

**🔄 What Happens to Unmatched Orders?**

**Limit Orders**

- Move automatically to the normal market order book

- Original timestamp is retained

**Market Orders**

- If opening price is discovered → converted to **Limit Orders** at opening price

- If opening price is _not_ discovered → shifted as Limit Orders at **previous day’s close**

**🛡 Risk Management (Important for Traders)**

- All orders placed in Pre-Open are subject to **margin availability checks**.

- If sufficient margin is not available, your order **will not be accepted**.

- **Self-Trade Prevention** is fully active in Pre-Open.

**💡 Key Takeaways for Traders**

- F&O Futures will now open with a **15-minute Pre-Open Session** , similar to equities.

- You can place limit/market orders during Pre-Open for eligible contracts.

- Opening price will be discovered before the normal session begins.

- Unmatched orders seamlessly move to the normal market.

- Options remain **fully outside** the pre-open mechanism for now.