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May 4, 2001
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Money > Business Headlines > Report May 4, 2001 |
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Sebi meet on deferrals on SaturdayBS Markets Bureau The Securities and Exchange Board of India is meeting on May 5 in Bombay to discuss various issues including the ban on deferral products and introduction of derivatives on individual stocks. "The main issue on the agenda for the board meeting is to discuss the Sebi group's recommendation to ban all carryforward products from July 2 when the rolling settlement is introduced in all specified stocks," Sebi sources said. The Sebi group in its meeting last week recommended ban on all deferral products such as the automated lending and borrowing mechanism of the National Stock Exchange, borrowing and lending of securities system of the Bombay Stock Exchange and also the rolling carryforward products, thus moving towards a pure cash market. It also recommended that in order to provide hedging facility to market players, stock exchanges will be allowed to introduce individual stock derivatives such as options and futures on select stocks from July 2. The board will also review the market situation and impact of the recent measures taken by the market regulator. Sebi is gearing up to introduce rolling settlement in specified scrips from July 2 following the announcement by finance minister in the parliament in this regard. Powered by YOU MAY ALSO WANT TO READ:
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