TaxTMI 
TaxTMI 
Trading features pertaining to the Electronic Gold Receipts (EGR) segment
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....d circular and with a view to specifying the details of various aspects of the trading of EGR on the recognized stock exchange/s, guidelines covering the following subjects are prescribed in the Annexures to this circular. (i) Trade Timings - Annexure A (ii) Transaction charges by stock exchanges - Annexure B (iii) Call Auction in Pre-open session - Annexure C (iv) Block and Bulk Deal - Annexure D (v) Price Bands - Annexure E (vi) Investor Protection Fund (IPF) & Investor Service Fund (ISF) - Annexure F (vii) Unique Client Code (UCC) - Annexure G 4. This Circular shall come into force with immediate effect. 5. The Exchanges shall: 5.1. take steps to make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the same, 5.2. bring the provisions of this circular to the notice of the members of the Exchange and also to disseminate the same on their website, 5.3. communicate to SEBI, the status of the implementation of the provisions of this Circular. 6. This Circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors ....
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....rk for Call Auction in Pre-open session 1. Duration: 1.1. The pre-open session shall be for a duration of 15 minutes i.e. from 8:45 AM to 9:00 AM, out of which 8 minutes shall be allowed for order entry, order modification and order cancellation, 4 minutes for order matching and trade confirmation and the remaining 3 minutes shall be the buffer period to facilitate the transition from pre-open session to the normal market. 1.2. The session shall close randomly during last one minute of order entry i.e. anytime between 7th and 8th minute of the order entry. Such random closure shall be system driven. 2. Reference Price: 2.1. Only for first day of trading of EGRs, the stock exchanges, shall discover and disclose a reference price for EGRs in the pre-open session. This reference price would be discovered using the 'spot price polling mechanism' as laid down in SEBI Circular no. SEBI/HO/CDMRD/DMP/CIR/P/2016/78 dated September 02, 2016. Such spot polling would be done, one working day prior to the launch of EGRs on an exchange. 2.2. If EGRs are already trading on any other stock exchange, the reference price during pre-open session on first day of trading of EGRs on such excha....
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....n. 8. Risk Management: The current risk management system for EGR segment shall be applicable to pre-open session. 9. The following information shall be disseminated during pre-open session: 9.1. Indicative equilibrium price of EGR 9.2. Indicative cumulative buy and sell quantity of EGR Annexure D Framework for Block Deals in EGR Segment 1. Duration: Considering EGR is a new security class, and it may take time to build liquidity in this segment, it has been decided to allow one block deal window. The window shall operate between 03:05 PM to 3:20 PM. 2. Reference Price: The reference price for block deals shall be the volume weighted average market price (VWAP) of the trades executed in the EGR segment between 02:45 PM to 03:00 PM. Between the period 03:00 PM to 03:05 PM, the stock exchanges shall calculate and disseminate necessary information regarding the VWAP applicable for the execution of block deals. 3. Price Limit: The orders placed shall be within ±1% of the reference price. 4. Minimum order size: The minimum order size for execution of trades shall be ₹ 10 Crore. 5. Every trade executed in the block deal window must result in delivery and shall n....
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.....3 the Company or companies in which he is a director; and 4.1.4 the HUF of which he is a manager(karta) shall be taken together for calculating bulk deals. 4.2 Where two or more persons are partners in a partnership firm or firms and where two or more persons are director in a company or companies and where two or more persons are Kartas of HUFs, the total executed orders held by 4.2.1 all the partners of partnership firm or firms; 4.2.2 the concerned partnership firm or firms; 4.2.3 all the directors of the company or companies; 4.2.4 the concerned company or companies; 4.2.5 all the Kartas of the HUFs; and 4.2.6 the concerned HUFs shall be taken together for calculating bulk deals. 4.3 Where a person or persons operating as individuals and /or being partners in one or more partnership firms and/or being directors in one or more companies and/or being kartas of HUFs are also trustees in one or more trusts, the total executed orders of 4.3.1 the person as individual operator, 4.3.2 the firm or firms in which they are partners; 4.3.3 the company or companies in which they are directors; 4.3.4 the HUFs in which they are Kartas; and 4.3.5 the trust or tr....