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    <title>Market making</title>
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    <description>Compulsory market making on SME exchanges must be ensured by lead managers through appointed stock brokers for the prescribed listing period; issuers must disclose market making arrangements in the offer document. Market makers and issuers, with lead manager consultation and SME exchange approval, may enter agreements with nominated investors for transfers, but market makers must maintain a minimum inventory at allotment, adhere to minimum trading lot size rules, and are prohibited from buying shares from promoters or their transferees during the compulsory market making period. Lead managers may have board representation by agreement.</description>
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      <description>Compulsory market making on SME exchanges must be ensured by lead managers through appointed stock brokers for the prescribed listing period; issuers must disclose market making arrangements in the offer document. Market makers and issuers, with lead manager consultation and SME exchange approval, may enter agreements with nominated investors for transfers, but market makers must maintain a minimum inventory at allotment, adhere to minimum trading lot size rules, and are prohibited from buying shares from promoters or their transferees during the compulsory market making period. Lead managers may have board representation by agreement.</description>
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