Mumbai, Jan 10 || Markets regulator Securities and Exchanges Board of India (SEBI) has proposed a comprehensive overhaul of trading‑related rules at stock exchanges to consolidate overlapping provisions and ease compliance for market participants.
The consultation paper recommended merging overlapping provisions on trading, price bands, circuit breakers, bulk and block deal disclosures, call auctions and liquidity enhancement schemes, according to an official statement.
The regulator proposed a total of 54 changes which include merging rules covering both equity and commodity segments into a single framework. The merging involves provisions on margin trading facility (MTF), unique client codes, PAN requirements, trading hours and daily price limits.
"Disclosure related provisions for bulk deals and block deals may be merged together. Further clarity may be provided on bulk deal disclosure, i.e. bulk deal information be disseminated by exchanges at client level (i.e. at PAN level) executed across members," the statement said.
Provisions applicable to clearing corporations should be separated into a dedicated master circular to avoid regulatory overlap, the regulator said.