Review of Block Deal Window Mechanism

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....005 prescribed guidelines for execution of large size trades through a single transaction. In order to facilitate execution of such large trades, the stock exchanges were permitted to provide a separate trading window. A trade executed on this separate trading window was termed as 'block deal'. 2. SEBI has been receiving suggestions from market participants to review the block deal framework. T....

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....M. The reference price for block deals in this window shall be the volume weighted average market price (VWAP) of the trades executed in the stock in the cash segment between 01:45 PM to 02:00 PM. Between the period 02:00 pm to 02:05 pm, the stock exchanges shall calculate and disseminate necessary information regarding the VWAP applicable for the execution of block deals in the Afternoon block de....

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.... applicable and implemented in respect of the block deal windows also. 10. This circular shall come into force with effect from January 01, 2018. The SEBI circular no MRD/DoP/SE/Cir-19/05 dated September 2, 2005 shall stand withdrawn with effect from January 01, 2018. The circular no SEBI/DNPD/Cir- 47/2009 dated October 23, 2009 shall stand modified accordingly to enable opening of morning bloc....