Monday June 19 2017

News Source: Global Exchanges

Focus: Listing Rules

Type: General




BSE has announced the introduction of “S+ Framework” for enhanced monitoring of BSE Exclusive Main Board Companies. The Securities and Exchange Board of India (SEBI) and the Exchanges, in order to enhance market integrity and safeguard interest of investors, have been introducing various enhanced pre-emptive surveillance measures such as reduction in price band, periodic call auction, transfer of securities to Trade to Trade (TT) category & Graded Surveillance Measures (GSM).

The main objective of these measures is to:

  • Alert and advice investors to be extra cautious while dealing in such securities
  • Advice market participants to carry out necessary due diligence while dealing in such securities.

In continuation with various surveillance measures already implemented, it has been decided to introduce an additional surveillance measure called “S+ Framework” for enhanced monitoring of securities exclusively listed / traded on the main board of BSE which are not a part of GSM framework.

The list of securities placed under “S+ Framework” shall be informed to market participants separately and shall also be available on the BSE website.

All market participants dealing in identified securities have to be extra cautious and diligent as, subject to satisfaction of certain criteria; additional restrictions may be imposed on dealing in such securities, such as:

  • Imposition of weekly, monthly price bands in addition to existing daily, quarterly, yearly price bands
  • Imposition of very high transaction charges
  • Placing / continuing securities in trade to trade category
  • Requirement of depositing additional amount as Surveillance Deposit, which shall be retained for an extended period.

Click on the link above for further details.