Groww, Zerodha To Roll Out Closing Auction Order Queuing As Angel One Takes Early Lead
Major Indian stockbrokers, including Groww and Zerodha, are expected to roll out systems enabling investors to queue orders during the new Closing Auction Session (CAS) transition window. According to a report by Moneycontrol, Angel One has already introduced the facility, giving it an early advantage as brokers adapt their technology to the new market mechanism. The development follows a…
Indian stockbrokers Groww and Zerodha plan to implement systems allowing customers to queue orders during the Closing Auction Session (CAS). Angel One has already introduced this feature, providing the firm an early edge as competitors adjust their technology to meet the new market mechanism. This follows a Securities and Exchange Board of India (SEBI) directive mandating brokers to update their trading infrastructure so clients can submit orders between 3:15 pm and 3:20 pm.
Current stock exchanges do not accept orders during this five-minute window. SEBI's objective is to streamline the closing auction process, enhance liquidity, and improve price discovery near the end of the trading day. The CAS was launched on August 3 for stocks in the derivatives segment. Angel One's Chief Technology Officer, Ajit Narayanan, emphasized the importance of accurately implementing the regulatory change, as errors could lead to rejected trades or trades executed at incorrect prices.
The broker adapted an existing order-queuing system, previously used to safeguard clients from disruptions with its order-management-system vendor, to handle the transition period. Angel One also introduced an Indicative Close Price, replacing the frozen last-traded price during the auction window. Clients can now monitor total trading volume and the indicative quantity anticipated to be matched during the auction.
SEBI initiated consultations on the closing auction mechanism last year, issuing a formal circular in January 2026 to align India's market structure with international practices.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
