This is reference to SEBI circular no. SEBI/HO/CDMRD/DMP/CIR/P/2022/07 dated January 10,2022 & circular no. SEBI/HO/CDMRD/DMP/P/CIR/2022/18 dated February 14,2022 and the Exchange notice 20221021-42 dated October 21,2022 on “Electronic Gold Receipts (EGR) segment”
A. With the view to ensuring orderly trading and protect market integrity, the following price bands in the EGR segment is applicable to prevent acceptance of orders for execution that are placed beyond the price limits:-
· The Price Range of +/- 5% previous day’s close price shall be applicable on EGR during pre-open session.
· The initial price limit for the price band (dynamic Price Band) shall be set at 10% of the previous close price.
· In the event of a market trend in either direction, Dynamic price bands may be relaxed during the day in increments of 5%. For the purpose of relaxing the dynamic price bands, the Exchange shall take into account that a minimum of 5 trades & 2 different UCCs on both sides of the trade at or above 9.90% or more of the previous close price and in further multiples of 5% of the price movement. Further, the dynamic price bands will be flexed only after a cooling-off period of 15 minutes from the time of meeting the existing criteria specified for flexing.
· In the event of exceptional circumstances, where there is extreme price movement beyond the initial price limit in the international markets, during trading hours or after the closure of trading hours, exchange can relax the price band directly by the required level, by giving appropriate notice to the market.
B. BSE continuously strives for bringing in various policy initiatives and measures in a pro-active manner to maintain and enhance market integrity and safeguard investor interest. In line with the same, the Exchange has proactively implemented various regulatory measures from time to time including Reversal Trade Prevention Check (RTPC) in Derivatives Segments and Equity Segment.
· In continuation with the above measures, it has been decided to introduce Reversal Trade Prevention Check (RTPC) in Electronic Gold Receipts (EGR) segment also.
In case of any clarifications, members are requested to contact 2272 5001/2272 1717/2272 5158.
For & On behalf of BSE Ltd.
Yogendra Daxini Kamlesh Kumar
Dy. General Manager Asst. General Manager
October 21, 2022
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