The story of the Bombay Stock Exchange and the people who shaped its growth: From wars and bomb blasts to speculators, reformers and wealth creators.
The issue is likely to be discussed on Thursday at a meeting of Sebi's board, which would also be apprised of the impact of the Finance Ministry's decision for not agreeing to such a proposal from the capital markets regulator, sources said.
Sebi had given the exchanges a 2-year window to comply or exit.
The Securities and Exchange Board of India (Sebi) is considering segregation of settlement for proprietary trades and retail trades to avoid misuse and circumvention by certain brokers, its chairperson Madhabi Puri Buch said recently. Proprietary trading refers to trades done by brokers and other financial institutions using their own capital. "There are some people who are permitting access to their clients through prop accounts for a variety of reasons, including wanting to fund their margins.
Stock exchanges are expanding the buffet of index derivatives even as the number of stocks permitted to trade in this space, generating an average daily turnover of Rs 450 trillion, is shrinking. This week, the National Stock Exchange (NSE) started issuing futures and options (F&O) contracts based on the Nifty Next 50 Index, bringing the total count of index derivatives to five.
A leading association of stock brokers today asked both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) to maintain status quo on trading timings until the infrastructure required for extending the hours was in place.
"Although extended market hours seems inevitable in the long run, current infrastructure and environment does not completely support the move."
The National Stock Exchange (NSE) on Monday cautioned investors against some fraudsters running illegal dabba trading with guaranteed returns to investors. Dabba trading is an illegal form of trading in shares, where operators of such trading rings allow people to trade in equities outside the stock exchange platform. The cautionary statements came after NSE found that the entities -- Shri Parasnath Commodity Private Limited, Shri Parasnath Bullion Private Limited, Faary Tale Trading Private Limited and Bharat Kumar (associated with Trade with Trust) --were providing dabba or illegal trading platform with assured returns.
The National Stock Exchange (NSE) on Thursday warned investors not to fall prey to investment schemes with assured returns offered by Sameer Gulabrao Thite associated with Samsan Unitrade. The exchange pointed out that the person and the entity are not registered either as a member or authorised person of any registered member of the NSE. The cautionary statement comes after the NSE noticed that Sameer Gulabrao Thite associated with Samsan Unitrade was offering the service to handle trading accounts of investors by asking them to share their user identification (user ID) and password.
The National Stock Exchange (NSE) on Monday asked investors not to put their money in guaranteed returns investment schemes offered by three individuals. The advisory came after the exchange found that the three individuals -- Veena (associated with Algo Master), Ankita Mishra and Vishal -- were offering such schemes. In a statement, the bourse said that these persons are not registered either as members or authorised persons with any registered member of the NSE.
After the Bombay Stock Exchange (BSE) Brokers Forum, the Association of National Stock Exchange Members of India (ANMI) has decided to approach the government and the Securities and Exchange Board of India (Sebi) on extension of trading hours from January 4.
The National Stock Exchange (NSE) on Friday warned investors not to fall prey to investment plans with guaranteed returns offered by Suraj Mourya associated with "Aimers Trader". The exchange pointed out that these entities are not registered either as a member or authorised person of any registered member of the NSE. The cautionary statement comes after the NSE noticed that Suraj Mourya associated with Aimers Trader was offering to handle trading accounts of investors by asking them to share their user identification (user ID) and password.
FM has asked brokers to exercise self-regulation for capital markets and also advised them to corporatise. He has commissioned a World Bank study to suggest an effective model for India.
Brokers have asked for a longer session on poll result day and an additional one on May 17
Bourses ask for okay in the 'permitted to trade' category; brokers and legal experts speak in favour.
'Rather than abolishing stamp duty as STT is already levied on all transactions, the government has de-facto imposed a state STT in the guise of stamp duty'
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
The Securities and Exchange Board of India (Sebi) has proposed measures mandating daily upstreaming of all investor funds from stockbrokers to clearing corporations (CCs). The step, aimed at reducing risk on client funds, will further deplete brokers' revenues as they will lose interest income with transfers being done daily. At present, stockbrokers convert the surplus funds into bank guarantees (BG) or fixed deposit (FD) receipts which earns them extra income.
Students of the Vinod Gupta School of Management of IIT Kharagpur learnt the six-Sigma dabbawallah doctrine.
Disclosing an individual's income-tax returns is tantamount to violating the person's fundamental right to privacy as recognised by the Constitution.
Moreover, Ravi Narain and Chitra Ramkrishna -- who had served as MD and CEO of the exchange -- have been asked to disgorge 25 per cent of respective salaries drawn during a certain period.
Sebi is examining if speculators and persons acting in concert are behind the huge movements in these stocks
'Valuations of midcaps and smallcaps have reached very high levels, and hence to that extent leave little margin of safety.'
The Committee of Administrators (COA) has recommended former India captain Kapil Dev's name as a part of the four-member steering committee that will help in the formation of Players' Association as per Lodha Panel Recommendation.
Friday will be a landmark day for domestic markets, with all the listed stocks entering the professed T+1 (trading plus one day) settlement cycle. About 200 stocks, which account for more than 80 per cent of India's market capitalisation, will be settled on a next-day basis, with effect from January 27. This will evidently complete the transition to the T+1 cycle that started in February 2022 with the bottom 500 stocks in terms of market value.
Brokers also want tax rebates, removal of additional tax on dividends, streamlining of GST...
Veteran banker Vikram Limaye will soon leave BCCI's Committee of Administrators to head the National Stock Exchange (NSE) and that will a big loss to the the already trimmed panel, said COA member Diana Edulji.
On May 16, the leads will start trickling in from morning but the final result is likely to come only after 3.30 pm, beyond trading time for the equities segment in India.
A key demand is to reduce the dividend distribution tax on listed firms.
Join us for a chat with Vidhu Shekhar, country head - India, CFA Institute on Wednesday, June 1 between 3 pm and 4 pm IST.
'NSE has thousands of employees. It is their institution. So it's a dear family.' 'One should not hurt the morale of these people.'
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Ramkrishna's exit comes at a time when NSE has been in focus over a new regulatory framework for high frequency trades and co-location facilities, which some believe give undue advantage to some brokers and traders
As a multi-agency probe into the NSE case gathers pace, the grant of preferential server and data access to select brokers and their suspected misuse are being investigated threadbare to unveil all quid pro quo arrangements in a highly-sophisticated scheme that worked like a cricket betting scandal, officials said on Monday. While the bourse has said it has taken several steps over the years to strengthen its technology infrastructure, including as per regulatory orders, the officials said certain fresh disclosures call for a detailed probe into whether a select group of individuals in high positions had banded together to make illicit gains by facilitating the preferential trading slots, beginning over a decade ago. Even a split-second faster access is said to result in huge gains for a trader.
Officials said Sebi first proposed to the FinMin to amend the relevant provisions in the Sebi Act to discontinue RBI's representation on its board, as it already has adequate presence of government nominees and in its over 25 years of existence the regulator has evolved as an "effective and one of the best in the world".
Rising prices of cereals and concerns over rice production in the 2023-2024 crop year due to insufficient rains followed by floods could be the possible causes.
A crammed calender left the Indian cricketers with not enough time to prepare for the ongoing Test series against South Africa, feels Board of Control for Cricket in India Committee of Administrators (COA) chief Vinod Rai.
During the debate on the 'Motion of Thanks on the President's Address', Leader of the House Piyush Goyal and Union Finance Minister Nirmala Sitharaman strongly objected to 'insinuations' against the prime minister, who was also present in the House.
At least one person was killed and 12 others injured on Tuesday when the police opened fire to disperse angry anti-government protestors in Sri Lanka's southwestern region of Rambukkana, officials said.
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