Sebi asks bourses to keep 7-yr trade log
Mumbai: The Securities and Exchange Board of India (Sebi) has decided to lay down a uniform time period of seven years for maintaining historical records of trade logs and five years in case of order logs by stock exchanges. It has also prescribed that brokers will be required to maintain a mapping of their client IDs for a period of seven years.

The objective of this exercise is to develop a link between stockwatch databases and the central database for filing. This would enable immediate updating of information with all exchanges, as soon as it was made public by firms through the central database. This decision was taken at a meeting of the Inter Exchange Surveillance group set up Sebi. The stock exchanges have also been asked to work with SEBI on developing a system for electronic filing and retrieval (on the lines of US EDGAR system).

Stock exchanges have also been called upon to develop databases containing details of contravention, instances of non-compliance by members as well as listed companies and details of action taken by exchanges in all such cases, for internal use. Exchanges would also develop an enforcement manual of their own for providing guidance to staff and standardising procedures. They have also been asked to designate a senior level official handling the surveillance function to co-ordinate with other stock exchanges on surveillance matters.
Back to News Review index page  

ACC launches Rs 50-cr bonds issue
Mumbai: Associated Cement Companies launched a private placement of secured non-convertible debentures on Wednesday. Merchant bankers say the issue has a target size of Rs 50 crore ($10.8 million). The greenshoe option is unspecified. The bonds have a maturity of five years. The issue will be priced through the book-building route and has a yield band of 11.75-12.0 per cent payable annually.

The bonds have been rated LAA- by ICRA, which denotes high safety. The arrangers to the issue are Standard Chartered Bank and Darashaw and Company. The funds raised will be used to meet the firm's general corporate expenses apart from capital expenditure requirements.
Back to News Review index page