Ved Jaiswal

Full Time Professional Trader- Future & Option

[IRITA @IRITA_india]

🚨 Indian Traders, this is OUR voice!

IRITA petitions SEBI & Exchanges to delink weekly options expiry from CAS and retain 3:15 PM expiry.

We’re not against CAS — we want fair price discovery & a level playing field.

👉 Sign & support: https://t.co/5ndGEufFpF

Sign. Share. Make your voice heard. 🇮🇳

#IRITA #IndianTraders #SEBI #CAS #OptionsTrading

[Ved Jaiswal @Ved_Jaiswal]

@niftybuddy CAS bhi inkhi ke tenure ki upaj hai

[CNBC-AWAAZ @CNBC_Awaaz]

#LIVE | #AwaazSpecials | #CASKiAwaaz |

🟦CAS पर बड़ी कवरेज

📷ट्रेडर्स के हक में देश की सबसे बुलंद आवाज़

🟦15 मिनट का खेल और ट्रेडर्स दिवालिया!

📷कल कैसे 20 गुना तक उछले पुट के दाम?

@_anujsinghal #RajeshBaheti @Bijay_reborn @MayankB44156264 https://t.co/TNZ2z66VjC

[Economic Times @EconomicTimes]

Did CAS fail its biggest test after Sensex’s 2,000-point swing in 6 minutes?

https://t.co/WmhQnl7XQF

[Ved Jaiswal @Ved_Jaiswal]

Let's do a press conference and raise our voice.
@IRITA_india

[Ved Jaiswal @Ved_Jaiswal]

Let's do a press conference and raise our voice
@IRITA_india

[Shivang ⚡ @shivang_ran]

Outrage against CAS | #RollbackCAS

Most of us can't take to the streets like @Cockroachisback right now — but there's still plenty retail traders can do. Every effort counts.

1) As suggested by @jitendder33 Sir

🏁Record short videos showing exactly how CAS has hit your P&L
🏁Write threads on X and put your views out there

2) Push to get @fintinity on CNBC Awaaz or other media outlets so retail has a voice in this debate — #BringAdityaForADebateonCAS

3) Follow and amplify @IRITA_india

We as retail traders and speculators contribute heavily to the exchequer — STT, transaction charges, stamp duty, income tax etc.

RT for maximum reach. United we stand, divided we fall 💪

@latasrinivasan @CNBC_Awaaz @ZeeBusiness @AnilSinghvi_ @_anujsinghal @justnottamomma @iarjuntandon @Ved_Jaiswal @v_ranjha @PRAFULKULKARN18 @ronak
@TanmayKurtkoti @sumitj362 @piyushchaudhry @jitendder33

[Ved Jaiswal @Ved_Jaiswal]

@iarjuntandon Weekly ko seperate karo

[IRITA @IRITA_india]

#cas @_anujsinghal @CNBC_Awaaz

[Aditya Pachwaria @fintinity]

What if the orders were not cancelled and profitable trades were taken through seperate account.

Treat the cause not the symptom, WOW!.

#CAS has reduced the regulator to being an investigator

[SecuritiesandExchangeBoardofIndia @SEBI_updates]

SEBI has passed an Ex-Parte Interim Order in the matter of manipulative trades during CAS on SENSEX expiry at BSE- August 13, 2026.

Details at: https://t.co/9th3AHB7Ih

#SEBI

[IRITA @IRITA_india]

#CASKiAwaaz @_anujsinghal
@CNBC_Awaaz
The Closing Auction Session (CAS) was introduced with a clear objective: better price discovery, a single equilibrium closing price, reduced impact of large volumes on closing prices, and improved NAV tracking for passive funds.

However, market structure matters. What may work well in low-derivative-volume markets can create unintended risks in India, where derivatives play a dominant role in price discovery.

Our key concerns:

1️⃣ Indicative price can be vulnerable to order manipulation
Since indicative prices are based on orders that can be modified/cancelled, they can potentially be influenced during the CAS window.

2️⃣ Liquidity remains a concern
Limited short selling, challenges in SLBM and higher STT have reduced participation in the cash market. A closing mechanism dependent on thin liquidity can amplify price distortions.

3️⃣ India is a derivative-driven market
With derivatives turnover vastly exceeding cash-market turnover, settling large derivative positions against a relatively small cash-market liquidity pool can create significant incentives for price manipulation.

4️⃣ Wild price movements in the final minutes
Even when the final CAS price remains close to the synthetic/reference price, the indicative price can experience sharp moves before settlement, creating unnecessary volatility.

5️⃣ Potential NAV & tracking implications
A distorted closing price can temporarily benefit some funds while disadvantaging investors entering or exiting at that day's NAV. Short-term tracking improvement should not come at the cost of long-term price distortion.

6️⃣ Cascading risk during extreme markets
In a 2008/2020-type event, a sharp fall/rise in the regular market could potentially be amplified during CAS, creating additional systemic volatility.

7️⃣ Derivative settlement risk
A wide CAS range combined with thin participation can transmit cash-market distortions directly into derivative pricing and settlement, particularly in 0DTE contracts.

8️⃣ Potential HFT vs retail asymmetry
CAS indicative-price feeds can be processed by HFT systems in microseconds. Institutions can react and rebalance positions almost instantaneously, while retail participants simply cannot compete on that latency.

Before discussing solutions, we must remember the basics.

A healthy financial market needs Hedgers, Speculators and Market Makers/Arbitrageurs.

Any market structure that unintentionally disadvantages one of these participants can impair efficient price discovery.

IRITA’s suggested framework

✅ Allow continuous cash-market trading alongside CAS
This creates immediate arbitrage opportunities and makes artificial price deviations harder to sustain.

✅ Delink 0DTE options from CAS
Weekly 0DTE contracts without a corresponding reference future should ideally be settled at 3:15 PM, using a 30-minute VWAP-based methodology.

✅ Make VWAP harder to manipulate
Consider using a randomly selected 15-minute window within the final 30 minutes rather than a fixed window.

✅ Keep CAS range tighter
A range of ±0.5% could substantially reduce extreme settlement distortions.

✅ Introduce an order-idle period
CAS orders should impact the indicative/reference price only after remaining unchanged for, say, 30–60 seconds. After qualifying, cancellation should not be permitted and modifications should only be allowed inward, not away from the market.

✅ Enable short selling during CAS
Greater two-sided participation can improve liquidity, reduce imbalance and make price manipulation more difficult.

Our broader view

CAS is not inherently flawed. It can be an effective mechanism in markets with relatively low derivative dependence and sufficient liquidity.

But India is structurally different.

When enormous derivative positions depend on a closing price discovered through a relatively small liquidity pool, the incentives and risks are fundamentally different.

[IRITA @IRITA_india]

🇮🇳 Financial Awareness Day × Independence Day 🇮🇳

On Financial Awareness Day, IRITA is announcing something special for tomorrow — 15th August, Independence Day 🇮🇳

🎙️ IRITA Space: CAS & 0DTE — Who Really Benefits?

The new Closing Auction Session (CAS) has changed the market structure. But has it created an unintended advantage for HFTs while making it harder for retail traders?

We’ll discuss:
🔹 What exactly changed with CAS?
🔹 How linking 0DTE expiry with CAS impacts option prices
🔹 Why HFTs may have a significant speed & information advantage
🔹 What it means for retail traders & option sellers
🔹 And most importantly — what can be improved?

🎧 Tune in tomorrow and join the conversation.

Keep checking this space for the timing and joining details.

💬 Have a question you want us to discuss?
🎤 Want to suggest a speaker for the Space?

Send us your questions & speaker requests in DM in advance.

Let’s make the market more transparent, fair and retail-friendly.

🇮🇳 Financial awareness is the first step towards financial freedom.

#IRITA #FinancialAwarenessDay #CAS #0DTE #RetailTraders #StockMarket #CasKiAwaaj

[IRITA @IRITA_india]

Financial awareness is the first step towards financial freedom. 💡

Learn. Invest. Protect. Stay disciplined. 📊

An informed investor is an empowered investor. 🇮🇳

#NationalFinancialAwarenessDay #IRITA #FinancialLiteracy

@IRITA_india

[IRITA @IRITA_india]

#CASKiAwaaz Strongly support every point raised here. 🙌

On behalf of IRITA and every single member of our community, a sincere thank you for taking these concerns forward and giving retail traders a platform to be heard.

These are not demands for convenience — they are genuine concerns about price discovery, risk management, execution and a level playing field for retail participants.

We truly appreciate this effort and hope the concerned authorities take these suggestions seriously and work towards a practical solution.

Together, for a fairer and more efficient market.
#CAS #SEBI #IRITA #RetailTraders

@_anujsinghal
@CNBC_Awaaz
@IRITA_india

[IRITA @IRITA_india]

IRITA DMs are open! 📩

Have suggestions, feedback, or concerns you’d like us to hear?
Feel free to DM us. Our voice matters. 🇮🇳

[IRITA @IRITA_india]

#CASKIAWAAZ
#DELINKEXPIRYFROMCAS

[IRITA @IRITA_india]

#CASKIAWAAZ
#DELINKEXPIRYFROMCAS

[IRITA @IRITA_india]

#CASKIAWAAZ
#DELINKEXPIRYFROMCAS

[IRITA @IRITA_india]

@SEBI_India @NSEIndia @BSEIndia @_anujsinghal @CNBC_Awaaz @NDTVProfit @ETMONEY