Published on: June 30, 2023
Dear friends,
The purpose of this post is just to share our experience with the last expiry session.
There was a holiday announced on 28th June 2023, Wednesday, on account of Bakri Eid. Monthly expiry of F&O contracts was 29th June 2023.
On Tuesday, 27th June 2023, the exchange announced that the holiday was shifted to Thursday from Wednesday. As a result, expiry will take place on Wednesday instead of Thursday.
A change in expiry date announced just one day before was a significant event for us. This means that all F&O symbols would change. The fact that we are both a brokerage house and a product company makes it a challenge for us. There was a serious impact on many things. People create strategies on Opstra. There are many charts related to Options in TradePoint and Zone. People perform chart analysis that needs continuity and we manage various F&O groups. There are alerts people save in Buzzar platform. All of these platforms are relied upon by people, especially on expiry days. Changes in symbol names would affect all of that. There is also a dependency on the files we receive from exchanges.
It was announced just a day before, so we had no time to think or test it. This scenario was never imagined before. We had an emergency meeting to discuss the impact and possibilities.
As you might have noticed, the continuity of options charts, groups in TradePoint and Zone was not affected on expiry day. In Opstra, the symbols in strategies were updated. Alerts and all strategies worked perfectly fine. Everything was as seamless as if the expiry symbols hadn’t changed.
In order to achieve this, the team worked late into the night and early morning on Wednesday. To ensure that nothing was broken, they tested everything on test servers and deployed it on live servers before processing position files in the morning.
Of course, this is part of our job. Other companies might have also done it. Unlike other brokers, we have many analysis products to manage. Providing a seamless experience with products and brokerage was a small accomplishment for our team. Furthermore, it indicates that we are capable of handling complexity and that the frameworks we have built are both flexible and scalable.
From a customer’s perspective, you should expect neither an issue nor an excuse from us. It was our job. I just shared it here as a friend as an expression of how things are at the back at times that you may not even know.
Experiencing challenges can be a transformative process that strengthens us. By navigating difficult situations, we can develop a greater sense of conviction and confidence. This principle applies to various fields, and I have learned it from trading.
In the realm of trading, facing and overcoming difficulties is the key to becoming a better trader or investor. Consistency in trading is directly linked to how effectively one handles the difficult period of trading strategies.
-Prashant Shah
