New Delhi: The Reserve Bank of India (RBI) on Wednesday said it may look into extending market timings for segments such as currency futures and over-the-counter foreign exchange.

In a statement on developmental and regulatory policies, RBI said it has received requests for such extensions from many market participants and will set up an internal group to look into this. The group will look into extending timings of markets under RBI’s purview and submit its report by October, it said. “With increased global integration of domestic markets, it is being discussed that market timings may be reviewed in order to facilitate better and quicker pricing of global developments," said Viral Acharya, deputy governor, RBI.

Any change in timings has to be in sync with clearing and settlement arrangements and their efficiency, Acharya said.

RBI said that “while the decision of market timings is best left to market participants and exchanges/trading platforms, it is necessary that timings across products and funding markets complement each other and avoid unanticipated frictions. It is, therefore, proposed, to set up an internal group to comprehensively review timings of various markets and the necessary payment infrastructure for supporting the recommended revisions to market timings."

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