Monday August 5 2013
News Source: Global Exchanges
Focus: Credit Rating
Type: General
Country: India
The National Spot Exchange of India (NSEL) has recently suspended trading in all contracts expect those under the “e-series” category until further notice from the government. The exchange decided to extend settlement periods to that of 15days, a decision which has raised concerns about potential pay-out defaults.
However, the Securities and Exchange Board of India has announced that the regulator is in control of the situation. According to SEBI, All the payouts and payins are occurring as normal and there is no risk to the system, despite share prices of group firms MCX and FTIL diving by 40 percent and 83 percent respectively in two days.
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