SEBI vide its circular No. SEBI/MRD/SE/Cir-7/2004 dated January 14, 2004 has decided that members of the Exchange shall make disclosures to the Exchange with respect to all transactions in a scrip where total quantity of shares bought / sold is more than 0.5% of the number of equity shares of the company listed on the Exchange.
The relevant content of the SEBI circular is as below:
"Sub: Disclosure of trade details of bulk deals
1. With a view to imparting transparency in bulk deals so as to prevent rumours /speculation about such deals causing volatility in the scrip price, it has been decided to bring about greater disclosure of such deals as mentioned below:
1.1. The disclosure shall be made with respect to all transactions in a scrip where total quantity of shares bought/sold is more than 0.5% of the number of equity shares of the company listed on the stock exchange.
1.2. The brokers shall disclose to the stock exchange the name of the scrip, name of the client, quantity of shares bought/sold and the traded price.
1.3. The disclosure shall be made by the brokers immediately upon execution of the trade.
1.4. The Stock exchanges shall disseminate the aforesaid information on the same day after market hours to the general public."
Accordingly and after seeking necessary clarifications from SEBI, members are advised to send the undermentioned information:
- Single Trade: Immediately upon the execution of the order where the traded quantity either buy or sell on account of any trade is more than 0.5% of the number of equity shares of the company listed on the stock exchange.
- Cumulative Trades for the Day: Within one hour from the closure of the trading hours, where the cumulative quantity traded under any single client code on that day either purchase or sale is more than 0.5% of the number of equity shares of the company listed on the stock exchange.
The information is to be sent in the format given below on Fax No. 022-22723353, as under:
|
Sr. No. |
Date of Trade |
Scrip Code |
Scrip Name |
Client Name |
Buy (B) / Sell (S) |
Quantity |
Trade Price/ Weightage Average Trade Price |
| |
|
|
|
|
|
|
|
The Stock Exchange will arrange to disseminate the aforesaid information after compilation on the same day to the general public through its website – www. bseindia.com (Circulars/Notices Section).
This notice is effective from Tuesday, February 17, 2004.
For any clarifications, members are advised to contact the following officers:
Mr. Kirit Mithiya (Extn 8599) / Mr. Neeraj Agarwal (Extn: 5093) and Mr. Ashit R. Raja (Extn: 5092).
Devika Shah
General Manager (Surveillance) |