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BSE Launches Borrowing and Lending Securities Scheme(BLESS)
With a view to promote securities lending and borrowing in Indian Capital Markets and provide a commercially competitive product the Exchange has introduced the Borrowing and Lending Securities Scheme (BLESS) w.e.f Monday, January 22, 2001. The facility of BLESS is available in 176 "A" group scrips in weekly settlement and in 15 scrips mandated by SEBI under compulsory rolling settlement.
With the introduction of BLESS, the earlier Modified Carry Forward System (MCFS) in weekly and rolling settlements has been discontinued. SEBI has since decided to shift trading in all 'A' groups scrips and scrips forming part of BSE-200 to the Compulsory Rolling Settlement and ban all deferred products like BLESS, ALBM, MCFs w.e.f. September 2, 2001. With this SEBI directives, BLESS facility which was earlier available in weekly settlement is now available only in Compulsory Rolling settlement and the same would be discontinued with effect from August 31, 2001.
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