An executive of the Bombay Stock Exchange revealed on Wednesday that the exchange is communicating with high-frequency trading institutions and other market participants. Such institutions have not participated in India's newly introduced closing collective bidding mechanism. Sandaraman Ramamoorthy, CEO of Bombay Stock Exchange, said in an interview: “Liquidity is the key to the success of the closing collective bidding mechanism. Currently, the development of this mechanism falls short of expectations, and neither retail investors nor high-frequency trading institutions have participated.” Ramamoorthy said that if the two exchanges can share an order book, it is expected to increase participation and liquidity in closing collective bidding, while optimizing the price discovery function.

An executive of the Bombay Stock Exchange revealed on Wednesday that the exchange is communicating with high-frequency trading institutions and other market participants. Such institutions have not participated in India's newly introduced closing collective bidding mechanism. Sandaraman Ramamoorthy, CEO of Bombay Stock Exchange, said in an interview: “Liquidity is the key to the success of the closing collective bidding mechanism. Currently, the development of this mechanism falls short of expectations, and neither retail investors nor high-frequency trading institutions have participated.” Ramamoorthy said that if the two exchanges can share an order book, it is expected to increase participation and liquidity in closing collective bidding, while optimizing the price discovery function.