NSE to Add 15-Minute Pre-Open F&O Session Using Call Auction System to Bring Fair Price Discovery and Smoother Trading

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The National Stock Exchange (NSE) will introduce a pre-open session for the Futures and Options (F&O) market from December 8, 2025. This new session will run for 15 minutes, from 9:00 AM to 9:15 AM, before the market opening for regular trading. The idea is to facilitate price discovery, mitigate market swings, and provide traders with a clearer view of prices before the day begins.

How the Pre-Open Session Will Work


This new session will utilize a call auction system, similar to the one used in the equity market. It will have three short parts.

In the first part, from 9:00 AM to around 9:08 AM, traders can place, change, or cancel their orders. A random closing will happen between the 7th and 8th minute to avoid any last-second changes.

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The second part, from 9:08 AM to 9:12 AM, will handle order matching. During this time, the system will decide the opening price by matching buy and sell orders based on demand and supply. No changes or cancellations will be permitted once this event begins.

The third part, from 9:12 AM to 9:15 AM, will act as a buffer time before regular trading begins.

What it Means for Traders


The pre-open session will be available for current-month futures on both stocks and indices. In the last five trading days of the current month, it will also include next-month futures. However, it will not apply to long-term contracts, options, or futures linked to corporate actions.

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Both market orders and limit orders will be allowed in this session, but stop-loss and immediate-or-cancel orders won’t be accepted. The NSE also said that every order will be checked for enough margin. If there is not enough margin, the order will not go through.

According to the NSE, this change will help traders find the right price for contracts before regular trading hours. It will also bring transparency, make price moves smoother, and reduce sudden spikes at the start of the market.

This action integrates the F&O segment with the equity market, which already operates using the same system. It would facilitate traders in understanding overnight global trends and making more informed plans for the commencement of trading.

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The new pre-open session will commence on December 8, and brokers are already preparing their systems to accommodate the new process.