3 september 2005

sebi disallows hand delivery bargains on exchanges
mumbai: as per a ruling by the market regulator, the securities and exchange board of india (sebi), hand delivery bargains on stock exchanges have now been disallowed, barring exceptional circumstances. the capital market regulator has directed that all transactions would now be settled through the clearing corporation and the clearing-house of the stock exchanges.

hand delivery bargains and delivery versus payments (dvp) would only be allowed if in case of exceptional circumstances such as total connectivity failure at the exchange/stp, on international holidays, or the closing down of national and international centres due to calamities, the regulator has said.

sebi: ses to open separate trading window for block deals
mumbai: sebi has asked all exchanges to provide a separate trading window for execution of block deals in which a minimum of 5 lakh shares are traded in a single transaction or the value of the transaction is at least rs5 crore.

as per sebis directive, the special trading window will be kept open only from 9.55 am to 10.30 am and transactions done through this separate window will constitute a 'block deal'.