BSE to drop Financial Tech from SLB segment from Nov 8
Leading stock exchange BSE today said it will exclude Jignesh Shah-led Financial Technologies (FTIL) from trading in the securities lending and borrowing (SLB) segment with effect from November 8.
October 30, 2013 / 10:21 IST
Leading stock exchange BSE today said it will exclude Jignesh Shah-led Financial Technologies (FTIL) from trading in the securities lending and borrowing (SLB) segment with effect from November 8.
The securities lending and borrowing (SLB) mechanism allows short sellers to borrow securities for making delivery. "FTIL shall not be available for trading in the SLB segment with effect from, November 8, 2013," BSE said in a circular. According to market regulator Securities and Exchange Board of India (Sebi) guidelines, shares with an average monthly trading turnover of Rs 100 crore or more in the previous six months are eligible for trading in SLB segment. Besides, shares with market-wide position limit (which indicates the investors' interest in a share) of at least Rs 100 crore is also eligible for the inclusion in SLB scheme. Also Read: Criminal complaint lodged against NSEL auditorsIn a separate circular, the exchange said Future Retail will move in to S&P BSE 500 index replacing Shree Nath Commercial & Finance from Thursday, October 31, 2013. Also, Global Infratech & Finance would be included in the S&P BSE 500 index in the place of Marico, while Indiabulls Housing Finance would enter S&P BSE 200 replacing Marico. These changes would be effective from November 1. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
