Trading Members are requested to note that SEBI vide circular CIR/MRD/DP/118/2017 dated October 26, 2017 has revised the framework for block deal as follows:
· Morning Block Deal Window: This window shall operate between 08:45 AM to 09:00 AM. The reference price for execution of block deals in this window shall be the previous day closing price of the stock.
· Afternoon Block Deal Window: This window shall operate between 02:05 PM to 2:20 PM. The reference price for block deals in this window shall be the volume weighted average market price (VWAP) of the trades executed in the stock in the cash segment between 01:45 PM to 02:00 PM. Exchange shall disseminate the VWAP applicable for afternoon block deal window.
· The orders placed shall be within ±1% of the applicable reference price in the respective windows as stated above.
· The minimum order size for execution of trades in the Block deal window shall be Rs.10 Crore.
The SEBI circular is attached as annexure for further details. The aforesaid changes in block deal window shall be effective from January 01, 2018.
Further details of trading functionality shall be provided via separate circular.
For further clarification trading members are requested to contact their respective Relationship Manager.
For and on behalf of BSE Ltd.,
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Ketan Jantre
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Sameer Vaze
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General Manager
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Senior Manager
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Trading Operations
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Trading Operations
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