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Brokers plan stir on July 23

Brokers on Tuesday decided to refrain from trading in all the stock exchanges of the country on July 23 to protest against the 'sudden implementation' of rolling settlement and ban on badla.

Speaking to PTI, Deena Mehta, spokesperson for the Bombay Stock Exchange Brokers' Forum, said the decision to halt trading for a day was taken as brokers all over the country were unhappy over the implementation of rolling settlement and banning of badla without prior notice to them.

A meeting was jointly called in Bombay on Tuesday evening by the Bombay Stock Exchange brokers' forum and Association of the National Stock Exchange members of India and it was attended by brokers from 16 exchanges including Delhi Stock Exchange, Calcutta Stock Exchange and Madras Stock Exchange.

They have unanimously decided to form an all-India brokers' forum -- Securities Industry Association of India -- which will act to protect and promote the interest of its members by guiding them, representing them and liaison with various authorities on their behalf, Mehta said.

Brokers would also try to seek an appointment with the Joint Parliamentary Committee and present to them their views on the current market situation and the remedies to improve the falling volumes.

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