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July 19, 2001
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Money > Business Headlines > Report July 19, 2001 |
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Sebi seeks trade data from regional boursesSuresh R Menon The Securities & Exchange Board of India executive director Pratip Kar on Wednesday called for data from regional stock exchanges pertaining to their daily trading volumes and monthly turnover beginning January 2001. Ahmedabad Stock Exchange sources said that Kar has also asked for data about the daily and monthly volumes of top 10 scrips being traded at the respective exchanges. They felt that the Sebi is trying to study the exact impact of various measures announced by it since January 2001 and implemented thereafter. These announcements included the bar on modified carry forward system and other deferral products as well as the introduction of compulsory rolling settlement from July 2. While the January, February and March figures would show how the exchanges were performing during the days when the modified carry forward system was in force, the figures for April, May and June would depict the exact impact the announcement pertaining to banning MCFS and introducing rolling settlement had on the turnover and volumes. "And the figures since July 2, besides revealing the actual impact of the implementation of rolling settlement, will also reflect the impact of the uniform settlement system, which has deprived the traders of arbitrage opportunities that were earlier available to them due to different settlement schedules at different stock exchanges," they added. Some ASE members welcomed this initiative on the part of Sebi as a positive indication and said, "It shows that the regulatory authority is contemplating to take some remedial steps to resolve the prevailing problems." However, others were cynical about it and said, "All these data are readily available with Sebi and they are also published on daily basis in newspapers. So if Sebi is really serious about taking any positive steps to remedy the situation, it would have compiled the data on its own and made some positive announcements by now, rather than deciding to call for these data from the respective stock exchanges." Powered by YOU MAY ALSO WANT TO READ:
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