The Solvent Extractors Association of India (SEA) has written to markets regulator Sebi pointing out that the present day buying and selling time is right sufficient and there’s no need to extend the trading time asking for Sebi to rethink the decision.

The letter changed into in reaction to Securities and Exchange Board of India’s (Sebi) notification offering extension of buying and selling timings on exchanges.

In a representation submitted to Sebi, SEA said that agriculture produce commercial enterprise inside the physical market like APMCs takes place upto 5 pm and no physical trade takes location after business final hours.

Further, most important auctions take region in the morning among 10 am to 12 midday and no buying and selling interest takes area thereafter. Hence, if futures marketplace is permitted beyond five pm, it is able to critically distort charges, the association said.

Trading hours in maximum commodity exchanges like BMD, CBOT, CDE and NYMEX is 4-five hours best in line with day and that too with good enough interval, in contrast to the proposed 12-hours for our commodity exchanges, SEA said.

The association brought that the prolonged trading hours may even increase the operating value of stakeholders as they will need to interact additional workforce to display the market moves after the near of commercial enterprise hours.

Absence of banking throughout extended working hours could additionally divulge marketplace participents to Forex threat as the equal can’t be hedged, the affiliation referred to.

SEA participants have hostile the extension of this timing as they feel it is completely uncalled for and able to developing extreme distortions in the easy flow of enterprise.