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Risk mgmt system robust: Bajpai
May 18, 2004 11:18 IST
Market regulator Securities and Exchange Board of India on Tuesday said the risk management systems at the stock exchanges are robust to withstand extreme volatility in the market and there will not be any problem in settlement of trades.
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"The systems have witnessed volatility but they are robust enough to withstand extreme situations," SEBI chairman G N Bajpai told PTI in Mumbai after a review meeting with senior regulatory officials and exchange representatives.
Bajpai, who cut short his visit abroad to return to Mumbai early Tuesday in the wake of Monday's market crash, said the market regulator is keeping a close watch on the developments and would take stern action against those involved in market abuse.