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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Order-to-Trade Ratio framework revised with equity option and market-maker exemptions; penalties narrowed, effective April 6, 2026.</h1> SEBI revises the Order-to-Trade (OTR) framework by exempting equity option orders within +/-40% of last traded price (premium) or +/- INR 20, whichever is higher, from high-OTR penalties, and by excluding algorithmic orders placed by Designated Market Makers for market-making from OTR computation; these changes apply to cash and derivative segments including liquidity enhancement schemes and take effect on April 6, 2026. Stock Exchanges must amend bye-laws, notify market participants and disseminate the changes. The circular is issued under SEBI's regulatory powers to protect investor interests and regulate the market.
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