Meeting of Group on Risk Management Systems for the Equity Markets

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Group on Risk Management Systems for the Equity Markets held on August 14, 2001 the following decisions have been taken : 1. Disclosure of the scrip wise delivery ratio In the absence of the deferral products and the introduction of the rolling settlement, the information of the open positions required in respect of top 500 scrips as required per circular SMDRP/POLICY/CIR-33/2000 dated July 27, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... compulsory dematerialised mode. The Exchanges had communicated that they were facing difficulties in implementing the no "no delivery" as they required to process auction and then close out in case of short/failed deliveries for the trading periods which were before the book closure/record dates. It was decided that in case of any short delivery by any member in the previous settlement where the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n/close out OR 20% above the official closing price on the exchange on the day on which auction offers are called for (and in the event of there being no such closing price on that day, then the official closing price on the immediately preceding trading day on which there was an official closing price), Whichever is higher." Since in the rolling settlement the auction and the close out takes .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X