Sebi chief Tuhin Kanta Pandey says CAS here to stay, will study concerns over rollout

Sebi Chairman Tuhin Kanta Pandey says the closing auction session (CAS) is here to stay, even as the regulator reviews concerns over its implementation. Launched on August 3, CAS has triggered sharp moves in the final minutes of trading and raised concerns over legacy systems, order placement and derivative positions. While Sebi has found no evidence of manipulation, Bernstein expects near-term pressure on index-options volumes.