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What's New
SEBI's PRESS RELEASE ON RISK MANAGEMENT SYSTEMS FOR EQUITY MARKET
It was decided in the meeting of the Group on Risk Management Systems for Equity Market held on March 07, 2001 that all sales transactions effective from March 08, 2001 shall be backed by delivery unless a sale transaction is preceded by a purchase position of at least an equivalent amount in the name of the same client in the same or any other exchange. This would also apply to the proprietary trading by members. This would be on a self certification basis and would be subject to Exchange off-site inspection up to sub-broker and client level. The exchanges would share information to facilitate the verification. It would be applicable to scrips in the MCFS, ALBM, BLESS and other deferral products.
This decision was to be reviewed after two settlements. Today discussions were held with some of the stock exchanges and taking into consideration the present market condition, it has been decided that these restrictions on the sale transactions would continue to apply until further notice.
(Source : SEBI, Ref. No. PR 50/2001 dated March 16, 2001)
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