Short Delivery Auction in India: NSE Rules
Rule 204 close-out deadline for a short-sale fail, by trade date (US sessions, trailing weeks)series ·
2026-09-16 · 15×6
SEBI's close-out formula applied to a US tape (AAPL, trailing three weeks, illustrative)series ·
2026-09-16 · 14×4
Rule 204 close-out deadline for a short-sale fail, by trade date (US sessions, trailing weeks)
Rule 204 close-out deadline for a short-sale fail, by trade date (US sessions, trailing weeks)
| trade_date | trade_weekday | settlement_date | rule_204_deadline | deadline_weekday | calendar_days_to_deadline |
|---|---|---|---|---|---|
| 2026-08-24 | Mon | 2026-08-25 | 2026-08-26 | Wed | 2 |
| 2026-08-25 | Tue | 2026-08-26 | 2026-08-27 | Thu | 2 |
| 2026-08-26 | Wed | 2026-08-27 | 2026-08-28 | Fri | 2 |
| 2026-08-27 | Thu | 2026-08-28 | 2026-08-31 | Mon | 4 |
| 2026-08-28 | Fri | 2026-08-31 | 2026-09-01 | Tue | 4 |
| 2026-08-31 | Mon | 2026-09-01 | 2026-09-02 | Wed | 2 |
| 2026-09-01 | Tue | 2026-09-02 | 2026-09-03 | Thu | 2 |
| 2026-09-02 | Wed | 2026-09-03 | 2026-09-04 | Fri | 2 |
| 2026-09-03 | Thu | 2026-09-04 | 2026-09-08 | Tue | 5 |
| 2026-09-04 | Fri | 2026-09-08 | 2026-09-09 | Wed | 5 |
| 2026-09-08 | Tue | 2026-09-09 | 2026-09-10 | Thu | 2 |
| 2026-09-09 | Wed | 2026-09-10 | 2026-09-11 | Fri | 2 |
| 2026-09-10 | Thu | 2026-09-11 | 2026-09-14 | Mon | 4 |
| 2026-09-11 | Fri | 2026-09-14 | 2026-09-15 | Tue | 4 |
| 2026-09-14 | Mon | 2026-09-15 | 2026-09-16 | Wed | 2 |
the exact SQL behind every number
SELECT
toString(t_day) AS trade_date,
formatDateTime(t_day, '%a') AS trade_weekday,
toString(s_day) AS settlement_date,
toString(c_day) AS rule_204_deadline,
formatDateTime(c_day, '%a') AS deadline_weekday,
dateDiff('day', t_day, c_day) AS calendar_days_to_deadline
FROM
(
SELECT
session_date AS t_day,
anyLast(session_date) OVER (ORDER BY session_date ROWS BETWEEN CURRENT ROW AND 1 FOLLOWING) AS s_day,
anyLast(session_date) OVER (ORDER BY session_date ROWS BETWEEN CURRENT ROW AND 2 FOLLOWING) AS c_day,
count() OVER (ORDER BY session_date ROWS BETWEEN CURRENT ROW AND 2 FOLLOWING) AS sessions_in_frame
FROM
(
SELECT DISTINCT date AS session_date
FROM global_markets.stocks_daily_aggs
WHERE ticker = 'SPY'
AND date >= today() - 24
)
)
WHERE sessions_in_frame = 3
ORDER BY t_day
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