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Dear Members
The
Indian markets edged lower in volatile trade as an unease over euro
zone sovereign debt levels. However, expectations of a normal
monsoon this year and optimism about 4th corporate
earnings capped the decline on the domestic bourses.
Some
of the key circulars released across BSFI segment last week are
“Margining of institutional trades in the cash market” ,
“Introduction of derivative contracts on volatility index”
& “Guidelines for market makers on small and medium
enterprise (SME) exchange/separate platform of existing exchange
having nationwide terminal” by SEBI & “2010-0045-Policy-SEBI
Circular for execution of power of attorney (POA) by client in
favour of Stock Broker or Stock Broker Depository Participant” &
“2010-0043-Policy-SEBI directive on reduction in charges” by
NSDL.
On
RAIN front,
SEBI
in its circular dated 22nd April, stated that the listing
period for new issues will be 12 working days, excluding Sunday’s
& holidays i.e. T+14 calendar days.
Stock
Exchanges have been requested to identify uniform documents for
submission of the listing applications. Mr. Narasimhan met Mr. Gopi
Iyer & Mr. Manu Thomas at BSE & Mr. Hari at NSE and
suggested them to call for a meeting with few registrars, wherein
documentation required by both the stock exchanges is clearly
identified. As per the circular, there are three stages for
submission of documents (a) T+2, (b) T+8, (c) T+11) and if this is
not resolved, there will be ambiguity and may lead to delay. Please
note, meeting date is not yet confirmed and will be communicated to
all of you separately.
With best regards
V.
Ganesh
Chairman – RAIN
www.rainnet.org
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