Notice No.   20200527-36   Notice Date   27 May 2020
Category   Trading   Segment   SME
Subject   Revision of penalty norms - Market Making on SME Segment – Update


This is further to the Exchange notice no. 20120309-32 dated March 09, 2012 whereby penal provisions were prescribed for non-compliance with market making obligations.


The Exchange has revised the penal provisions for non-compliance with market making obligation and the same are as follows:



Sr. No.

Time period of absence of the Market Maker

Penalty to be imposed


1 day

Warning Letter to be issued


For 2 days (at a stretch)

Rs. 2,500


More than 2 days and up to 5 days (at a stretch)

Rs. 5,000


More than 5 days and up to 7 days (at a stretch)

Rs. 15,000


More than 7 days and up to 15 days (at a stretch)

Rs. 25,000


More than 15 days and up to 30 days (at a stretch)

Rs.50,000 and suspension of market maker



All other provisions of the aforesaid Notice remain unchanged.


Trading members may please note that these norms will come into force w.e.f.  from June 01, 2020.


In case of any clarifications, members may contact on following numbers 022 2272 5001/ 1717/5158.




Ajay Thakur

Usha Sharma


Head – BSE SME & Startup

General Manager - Surveillance









May 27, 2020