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The Securities and Exchange Board of India (SEBI) received over 20,000 comments on its consultation paper on the closing auction session (CAS), market timings and derivatives settlement methodology, a report said on 4 October 2026, with the consultation now closed. SEBI's paper had proposed two alternatives for determining expiry day settlement prices: a blended volume weighted average price (VWAP) incorporating trades from both the final 30 minutes of continuous trading and the 10 minute CAS, or continuing the existing continuous-trading-only VWAP for at least a year before any shift to the blended method. Feedback from traders and brokers, including the Futures Industry Association, favoured retaining the existing continuous trading VWAP, arguing it is familiar and transparent and would let the CAS mechanism, introduced for stocks with derivatives contracts from 3 August 2026, develop its own liquidity before being folded into settlement.