Individual scrip wise price bands on non-F&O eligible scrips in Index Derivatives
Summary
SEBI mandates the implementation of individual scrip-wise price bands up to 20% for non-F&O eligible scrips included in Index Derivatives. Stock Exchanges are directed to enforce these provisions effective February 17, 2014, following SMAC recommendations to protect against excessive price movements. The circular is issued under Section 11(1) of the SEBI Act, 1992, requiring exchanges to update systems and notify market participants.
Text
implement appropriate individual scrip wise price bands upto 20% on such scrips
implement provisions of this circular with effect from February 17, 2014
take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant byelaws, rules and regulations
bring the provisions of this circular to the notice of the trading members/clearing members and also disseminate the same on its website
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992
Source: SecMarx — Individual scrip wise price bands on non-F&O eligible scrips in Index Derivatives. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.