Sebi mulling on
new measures
New Delhi: Sebi is
expected to bring in a lot of market regulatory measures including introducing the concept
of unique code number for trading that will help track transactions across exchanges, but
it is unlikely to lift the ban on short sales.
On the
other hand, there is some doubt over its earlier recommendation to ban badla and introduce
a rolling settlement.
The unique code number
will be a single number for trading across all exchanges in the country, and will help in
tracing transactions by any broker, client or any other entity.
On the issue of rolling settlements, Sebi board members are of the view that it may not
help in curbing manipulatio0n as most of the scrips where much manipulation took place
recently, such as Global Trust Bank, Amara Raja, Lupin Laboratories, etc, already come
under rolling settlement .
Besides, the view is that
it would be difficult to enforce rolling settlement in the absence of a viable mechanism
for electronic transfer of funds.
Sebi is also putting its own house in order, including introducing service regulations for
its staff, for the first time.
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