Brokers

 OTC EXCHANGE OF INDIA  

Circular No.: 0618/2004/NSCCL/OTC/039                             Date: February 19, 2004

Dear Members/Dealers

Sub: Disclosure of trade details of bulk deals

SEBI vide its circular No. SEBI/MRD/SE/Cir-7/2004 dated January 14, 2004 (Annexure - 1) has decided that members of the Exchange shall make disclosures to the Exchange with respect to all transactions in a scrip where total quantity of shares bought / sold is more than 0.5% of the number of equity shares of the company listed on the Exchange.

The relevant content of the SEBI circular as below:

QUOTE:

Sub: Disclosure of trade details of bulk deals

1.      With a view to imparting transparency in bulk deals so as to prevent rumours /speculation about such deals causing volatility in the scrip price, it has been decided to bring about greater disclosure of such deals as mentioned below:

1.1. The disclosure shall be made with respect to all transactions in a scrip where total quantity of shares bought/sold is more than 0.5% of the number of equity shares of the company listed on the stock exchange.

1.2. The brokers shall disclose to the stock exchange the name of the scrip, name of the client, quantity of shares bought/sold and the traded price.

1.3. The disclosure shall be made by the brokers immediately upon execution of the trade.

1.4. The Stock exchanges shall disseminate the aforesaid information on the same day after market hours to the general public.

UNQUOTE:

 

 

 

Accordingly, members/dealers are advised to send the under mentioned information:

1.      Single Trade: Immediately upon the execution of the order where the traded quantity either buy or sell on account of any trade (client / proprietor) is more than 0.5% of the number of equity shares of the company listed on the stock exchange.

  1. Cumulative Trades for the Day: Within one hour from the closure of the trading hours, the quantity traded on that day either purchase or sale under proprietary or any single client code is more than 0.5% of the number of equity shares of the company listed on the stock exchange.
  2. The information is to be sent in the format given below on Fax No. 022-22188503, as under :

 S No.

Date of Trade

Symbol

Scrip Name

Client Name

Buy (B) / Sell (S)

Quantity Traded

Trade Price / Weighted average trade price

 

 

 

 

 

 

 

 

The Exchange will arrange to disseminate the aforesaid information after compilation on the same day to the general public through its website - www.otcei.net.

To facilitate the members to ascertain the number of equity shares of the company members may please use the file (file name: bulkddmmyyyy.xls) available on the FTP. The format of the file is as follows:

Symbol

Series

Number of equity shares of the company.

For OTC Exchange of India

 

R.Anand

Asst. Vice President 

 

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