One month into CAS: It didn’t break India’s options market. It exposed how narrow it is.
India’s new Closing Auction Session (CAS) has exposed a deeper structural issue in the derivatives market: extraordinary liquidity concentrated in a narrow universe of short-dated index options. The next stage of market development should focus not on weakening 0DTE products, but on building deeper liquidity. For Nippon AMC, Nomura expects the flow share at…










