Guidelines for execution of block deals on the stock exchanges

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..... deals on the stock exchanges 1. SEBI had issued a circular (reference no. SEBI/MRD/SE/Cir-7/2004) on January 14, 2004 on disclosures of details of "bulk" deals with a view to impart greater transparency to the market on such transactions executed on the stock exchanges. In terms of paragraph 1.1 of that circular, a "bulk" deal constituted of "all transactions in a scrip (on an exchange) where tot .....

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..... from "bulk" deal defined earlier. 3. A "block" deal will be subject to the following conditions : a. The said trading window may be kept open for a limited period of 35 minutes from the beginning of trading hours i.e. the trading window shall remain open from 9.55 am to 10.30 am. b. The orders may be placed in this window at a price not exceeding +1% from the ruling market price/previous day .....

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..... hours. 4. The stock exchanges shall ensure that all appropriate trading and settlement practices as well as surveillance and risk containment measures, etc., as presently applicable to the normal trading segment are made applicable and implemented in respect of the proposed special window also. 5. The stock exchanges are advised to a. make necessary amendments to the relevant bye-laws, rules .....

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