NSE brokers can't trade in unlisted bonds

29th November, 2003.No broker with the National Stock Exchange can from now on issue contract notes for unlisted bonds. The move will end the role of all leading debt brokers in unlisted bonds, which still today constitutes 80% of bond volumes. It will compel corporates and other entities to list all their outstanding debt papers on the NSE.

Reduction in Notice Period for Fixing the Book Closure/Record Date

Circular No. SEBI/CFD/DIL/SE/43/2003 Dated 20.11.2003 : SEBI has decided to reduce the notice period, by the listed companies to the stock exchanges about their book-closure / record date, in phases to ensure that there is minimum discomfort to the market players. therefore, it has been decided that in the first phase, the notice period may be reduced to 15 calendar days in case of demat scrips and to 21 calendar days in case of physical scrips in comparison of earlier period of 30 days and 42 days for demat scrips and physical scrips respectively. Accordingly, all the stock exchanges have been advised to implement the decisions immediately and make necessary amendments to the bye-laws and listing agreement wherever necessary. The exchanges have also been directed to bring the provisions of this circular to the notice of the member brokers/clearing members of the exchange and also to put up the same on the website for easy access to the investors.

Appointment of Member for Central Listing Authority

Press Release No. PR 288/2003 Dated 27.11.2003 : , Shri.C B Bhave, Managing Director, National Securities Depository Ltd. (NSDL) has been appointed as member of CLA with effect from 6th November 2003 in place of Shri.Manjit Singh, who has resigned from Ludhiana Stock Exchange and by virtue of such resignation, also resigned from the membership of CLA on 6th September 2003. Shri.C B Bhave is appointed for a term of three years with effect from that date.