Securities and Exchange Board of India (SEBI) and Exchanges in order to enhance market integrity and safeguard interest of investors, have been introducing various enhanced pre-emptive surveillance measures such as reduction in price band, periodic call auction and transfer of securities to Trade to Trade category, Graded Surveillance Measure, Additional Surveillance Measure Framework from time to time.

SEBI and Exchanges, pursuant to discussions in joint surveillance meetings, have decided to revise the ASM framework introduced on March 21, 2018 and the revised ASM framework includes;

• Long Term ASM Framework
• Short Term ASM Framework

The criteria for shortlisting of securities for the aforementioned frameworks and applicable surveillance actions are stated in Exchange notice no.20181027-1 dated October 27, 2018. The link to the said notice is given below..

Notice - Criteria

Long Term ASM - Update
Long Term ASM on Equity Derivatives
ASM Update
Additional Criteria - Short Term ASM
Additional Criteria - Short Term ASM 1

ASM framework is in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time and as may be applicable.

Further, it may also be noted that the shortlisting of securities under ASM is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company.

The list of such securities identified under Long term and Short Term ASM Framework alongwith their respective stages shall be published on time to time.

List of Short Term ASM Securities
List of Long Term ASM Securities
Applicable Beta for ASM Framework