Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>SEBI approved the appointment of Ashish <keyword id="1631" type="General" weightage="100" keywordseo="chauhan" source="Orion">Chauhan</keyword> as its new MD and CEO</li><li>Chouhan had earlier worked at <keyword id="6354646" type="General" weightage="20" keywordseo="NSE" source="Orion">NSE</keyword>, for seven years as its vice-president starting 1993.</li><li>He was known as the father of modern financial derivatives as he was instrumental in setting up the NSE derivatives platform.</li></ul>The markets regulator SEBI has approved the appointment of Ashish Chauhan as NSE’s new MD and CEO, on Sunday. Chouhan will give up his top job at the rival stock exchange, BSE, to join India’s largest stock exchange during turbulent times. “The Securities and Exchange Board of India (SEBI) has approved the name of Ashish Kumar Chauhan as the MD and CEO of NSE. His appointment is subject to acceptance of the offer made to him and fulfillment of terms and conditions including approval from the shareholders of NSE,” the exchange said, in a press release. <cmsannotation type="cmsannotation" annotationid="Chouhan comes back to NSE after 22 years" comment="subhead" text="Chouhan comes back to NSE after 22 years">Chouhan comes back to NSE after 22 years</cmsannotation> The top job at NSE became vacant after former IDBI head Vikram Limaye who was heading it, did not extend his five year contract in spite of the eligibility. However, Chouhan will be more burdened by the events surrounding another former CEO of the exchange <keyword id="13211376" type="General" weightage="20" keywordseo="Chitra-Ramakrishnan" source="Orion">Chitra Ramakrishnan</keyword>’s tenure — embroiled in money laundering amidst other controversies. Ramakrishnan was recently arrested by the Enforcement Directorate and sent to a four day custody o<a href="https://www.businessinsider.in/india/news/chitra-ramakrishna-arrested-by-ed-and-sent-to-a-four-day-remand/articleshow/92879523.cms">ver illegal phone tapping in her former case</a>. For Chouhan this will be a second coming as he had worked at NSE, for seven years as its vice-president starting 1993. In fact, he was one of the founding fathers of the exchange and is also credited with conceptualizing the NSE derivatives platform. For this, he is constantly referred to as the father of modern financial derivatives. He is also the creator of Nifty, and was instrumental in setting-up screen based trading. A lot of market experts believe that his appointment signals NSE’s ambitions to go public. After he quit NSE in 2000, he worked at various positions at various Reliance group entities like Reliance Infocomm, Reliance Communications and Reliance Industries. Chouhan even worked at Mumbai Indians briefly before joining BSE as its deputy CEO and rising to the position of CEO, in the 12 years that he worked there. The governing board of NSE has appointed an internal executive committee comprising of Yatrik Vin, Group CFO head of corporate affairs; Priya Subbaraman as the chief regulatory officer, and more; to run the affairs in the interim. This committee will be dissolved once the new CEO assumes charge, it said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-largest-wine-seller-sula-vineyards-files-for-an-ipo/articleshow/92919070.cms">India’s largest wine seller Sula Vineyards files for an IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/booster-shots-important-says-new-study-as-covid-vaccine-protection-is-short-lived/articleshow/92918945.cms">Booster shots important says new study as Covid vaccine protection is short-lived</a>

Meet the new CEO of NSE Ashish Chauhan, creator of Nifty and father of derivatives

New Delhi, Jul 15 () Leading stock exchange NSE has extended the zero transaction charge for trades done in commodity derivatives segment till September 30. The bourse had launched its commodity derivatives segment on October 12, 2018. NSE had earlier decided that no transaction charges will be levied on the transactions done in commodity derivatives segment of the exchange up to June 30,2020. "Based on the positive market feedback it has been decided to extend the same from July 1, 2020, to September 30, 2020," the National Stock Exchange (NSE) said in a circular on Monday. SP SHW SHW

No transaction fee on commodity derivatives till September: NSE

New Delhi, Jan 21 () The NSE on Tuesday said it has emerged as the world's largest derivatives exchange in 2019 by number of contracts traded surpassing the CME Group based on the statistics published by derivatives trade body Futures Industry Association (FIA).
 Besides, the National Stock Exchange (NSE) said it has been ranked third in the world in the cash equities segment by number of trades as per the statistics published by the World Federation of Exchanges (WFE).
 "...Our achievements have been made possible by supportive government and regulatory policies, state of the art technology infrastructure, a robust risk management framework and broad based trust and participation by the entire spectrum of global and domestic investors," NSE MD and CEO Vikram Limaye said in a statement.
 He further said market development is critical for financing the growth of India and for achieving the aspiration of becoming a USD 5 trillion economy by 2024-25. Robust capital markets are not only critical for financing the country's growth potential but also for creating employment opportunities for youth.
 Over the last five years, the NSE said its cash equities segment has grown by more than 90 per cent from a daily average turnover of about Rs 17,572 crore in 2014-15 to about Rs 34,264 crore in 2018-19. During the same period, equity derivatives daily average turnover has increased 70 per cent from Rs 52,371 crore to Rs 88,772 crore.
 Growth in volumes of both cash equities and derivatives is on the back of deepening of equity markets in India, the exchange noted.
 The NSE said it has witnessed more than 1.2 crore new investor registrations in the cash equities segment in last 5 years out which close to 87 lakh registrations were in last 3 years. It is also observed that a third of the new investors have come from tier 3 and tier 4 cities and towns.
 "Another heartening feature is adoption of digital tools by investors with about 26 per cent of total trading activity in the cash equities segment coming through mobile and internet trading," the exchange said. SP SHW
SHW

NSE emerges as world's largest derivatives exchange in 2019

The <keyword id="53581" type="CITY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> of India (NSE) on Thursday said it has received an approval from the <keyword id="155823" type="ORGANIZATION" weightage="20" keywordseo="Securities-Exchange-Board-of-India">Securities Exchange Board of India</keyword> (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) to launch derivatives on the <keyword id="4235902" type="PERSON" weightage="20" keywordseo="nifty-financial-services-index">Nifty Financial Services Index</keyword> in the 'futures &amp; options' segment of the exchange. Currently, the NSE offers index derivatives on only two equity indices '<keyword id="6136404" type="UNKNOWN" weightage="20" keywordseo="nifty-50-index">Nifty 50 Index</keyword>' and the '<keyword id="3505641" type="PERSON" weightage="20" keywordseo="Nifty-Bank-Index">Nifty Bank Index</keyword>'. The exchange will launch the index derivatives from January 11, 2021. As per the NSE, the financial services sector assumes significance as the sector accounts for 33.5 per cent of the Nifty 500 index. "The Nifty Financial Services Index comprises of 20 stocks and is designed to reflect the behaviour and performance of the Indian financial market which includes banks, financial institutions, housing finance, insurance companies and other financial services companies," the NSE said in a statement. Recent investment data of Foreign Portfolio Investors (FPIs) indicates that 48 per cent of new investment flows were channelised into the financial services sector, as per the statement. "The sector accounted for 35 per cent of the assets under the custody of FPIs. Further, many of the asset management companies have mutual fund schemes on the financial sector theme." "The Nifty Financial Services index has a 94 per cent correlation and a beta value of 1.2 with the <keyword id="66115" type="PERSON" weightage="20" keywordseo="Nifty-50">Nifty 50</keyword> Index. It has a correlation of 98 per cent with the Nifty Bank index. The Nifty Financial Services index has delivered annualised returns of 14.99 per cent in the last 5 years." According to the exchange, it will offer 'futures and options' in seven serial weekly excluding the monthly expiry and three serial monthly contracts. "This is the first time that the exchange will make available weekly futures for the stock index derivatives," the statement said. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/instagram-facebook-messenger-outage-in-india-europe-japan-and-other-parts-of-the-world/articleshow/79661777.cms">Instagram and Facebook Messenger down for users across the globe</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-hcl-tech-and-tcs-stocks-may-see-another-surge-estimates-edelweiss-heres-why/articleshow/79659516.cms">One research firm says shares of Infosys, HCL Tech, and TCS may see another surge — here's why</a> <a href="https://www.businessinsider.in/tech/news/india-desi-gps-finally-joins-china-russia-and-the-us-after-a-two-year-long-wait/articleshow/79656300.cms">India’s desi-GPS is now in the same league as the US, Russia and China — can scan 1,500 kilometres beyond its own borders</a>

SEBI approves the launch of derivatives on NSE's Nifty Financial Services Index starting January 11

New Delhi, May 8 () Two exchanges at International Financial Services Centre in Gift City, India INX and NSE IFSC, on Friday launched trading in rupee-USD derivative contracts to enable participants to hedge, trade and settle in the dollar.With the launch, trades that have been migrated to other international financial centres will now bring rupee trading home.Besides, trading of INR-USD futures and options will enable participants to hedge, trade and settle in USD with market rules and ecosystem at GIFT City IFSC that is at par with other global markets.The launch was done virtually by Finance Minister Nirmala Sitharaman, where she rang the bell electronically and declared Rupee-Dollar Futures and Options contract open for trading on India INX and NSE IFSC, both exchanges said in separate statements."We welcome today's launch of rupee-dollar trading from the International Exchanges at GIFT IFSC. This new reform will enable India to become a net exporter of financial services, being in sync with the vision of GIFT City as a platform for onshoring financial services business, presently being lost to other financial centres across the world," said Tapan Ray, MD and Group CEO at GIFT City.India INX Chairman Ashishkumar Chauhan said the launch of INR-USD contracts is a great initiative to onshore the offshore rupee-dollar markets."Introduction of rupee derivatives in IFSC is crucial for the development of Indian financial markets. Rupee derivatives in IFSC would help in creating a vibrant forex market in India. "This will also play an important role to bring offshore rupee market back to India and strengthen price discovery in Indian markets," NSE MD and CEO Vikram Limaye said.The move comes after Sitharaman in her budget speech said that in recent years, there has been a surge in trading volumes of the Indian rupee in the offshore financial centres."The government and the RBI have taken various measures to permit rupee derivatives to be traded in the International Financial Services Centre at GIFT city, Gujarat," she had added.IFSC platform offers access for the international investors and non-resident participants who currently participate in INR trading in various offshore markets and shall offer such participants, an additional trading venue at par with the other offshore market platforms. Long trading hours and USD settlement at IFSC would also help to improve access for overseas participants. This will, in turn, help these participants in hedging their rupee exposures effectively at IFSC.NSE IFSC Clearing Corporation (NICCL) would provide counter-party settlement guarantee for the trades executed on NSE IFSC Ltd.The major participants in rupee derivatives contracts at NSE IFSC would include Foreign Portfolio Investors (FPI), Corporations, IFSC Banking Units (IBUs) trading members, Global banks &amp; custodian and Non-Resident Indians.India INX and NSE IFSC are based in IFSC at Gujarat International Finance Tec-City. SP MR

India INX, NSE IFSC launch rupee-USD derivative trading

<ul><li>The national stock exchange and the BSE have extended trading hours till 5 PM today after <keyword id="6354646" type="UNKNOWN" weightage="20" keywordseo="nse">NSE</keyword> halted trading for at least 4 hours.</li><li>The halt left the traders in a lurch about their positions a day ahead of the derivative contracts' monthly expiry.</li><li>In minutes after the resumption, Sensex surged over 800 points to top 50,670 mark; Nifty neared 15,000.</li></ul>The National Stock Exchange and the BSE have extended trading hours till 5 PM today after NSE halted trading for at <a href="https://www.businessinsider.in/stock-market/news/nse-halts-trading-after-data-glitches-stop-nifty50-and-bank-nifty-from-updating/articleshow/81186539.cms" data-type="tilCustomLink">least 4 hours due to a technical snag</a>. The trading at NSE resumed at 3.45 PM. In minutes after resumption, Sensex surged over 800 points to top 50,670 mark; Nifty neared 15,000 mark, up by over 270 points. <div type="Article" hostid="261" msid="81188380" title="NSE memes flood social media as the stock exchange halts trading due to glitch" mstype="2" mssubtype="0"></div> "BSE equity and equity derivatives markets will remain open till 5 pm today as decided jointly between exchanges today. All other market timings will remain as normal," BSE said in a statement. Taking note of the around four-hour-long "trading halt" on the National Stock Exchange (NSE), SEBI has directed the bourse to carry out a detailed analysis of the incident and submit its report to the regulator at the earliest. In a statement, the capital market regulator has also told NSE to explain the reasons for trading not migrating to the disaster recovery site. "SEBI has advised NSE to carry out a detailed root cause analysis of the 'trading halt' witnessed at NSE today and also explain the reasons for trading not migrating to the disaster recovery site. SEBI has asked NSE to submit its report at the earliest," it said. <div type="twitter" handle="NSEIndia" handlename="NSEIndia" image="http://pbs.twimg.com/profile_images/1027220658206306304/3DoFsMIs_normal.jpg" favoritecount="143" retweetcount="31" status="Please note the market timings for only today:F&amp;O Segment Normal Market will Re-open as follows:Normal Market op… https://t.co/oFDS7MORCV" createdat="1614162702000" id="1364523391575674881"></div> Earlier today, the stock exchange had to cancel all open orders of option and currency futures after trading was halted. However, the broader Indian markets were not impacted, as communication lines at BSE continued even as NSE faced troubles. The traders were left in a lurch about their positions a day ahead of derivative contracts' monthly expiry. Anand James, chief market strategist at Geojit Financial Services said “Expiry eve is a crucial day for expiry related trades as time decay sets in. As indices froze a little after 10 am, F&amp;O trades that reference such benchmark indices also slowed down. With hardly an hour's trade possible for such index-based traders the higher margins on F&amp;O positions may have been a double whammy.” The bourse said it depends on two telecom service providers for connectivity, and both failed simultaneously, resulting in the outage. NSE, in a statement, said, “NSE has multiple telecom links with two service providers to ensure redundancy and we have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system.” SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/vested-finance-ceo-shares-his-guide-to-us-stock-investing-for-indians/articleshow/81185944.cms">Vested Finance CEO shares his guide to US stock investing for Indians</a><a href="https://www.businessinsider.in/stock-market/news/vested-finance-ceo-shares-his-guide-to-us-stock-investing-for-indians/articleshow/81185944.cms"></a> <a href="https://www.businessinsider.in/india/news/these-indian-states-now-require-you-to-carry-a-covid-19-negative-test-report-for-entry-after-rising-coronavirus-cases/slidelist/81185478.cms">These Indian states now require you to carry a COVID-19 negative test report for entry</a>

NSE resumes trading after a brief halt, stock exchanges to remain open till 5 PM

New Delhi, Jan 31 () The National Stock Exchange (NSE) on Friday said it has received markets regulator Sebi's approval to launch a new electronic platform for debt securities which is aimed at improving liquidity in the segment.
 In a statement, the exchange said the platform -- NSE RFQ (request for quote) -- will be launched by Sebi Chairman Ajay Tyagi on Tuesday, February 4.
 Earlier, rival bourse BSE has received the markets regulator's approval to launch RFQ in debt securities from February 3.
 As a part of continuous market development initiatives to improve liquidity in debt market, the NSE said it is introducing RFQ platform, an electronic platform where market participants can negotiate their deals in any of the eligible securities.
 The list of eligible securities include corporate bonds, securitised debt instruments, municipal debt securities, government securities, state development loans, treasury bills, commercial papers and certificates of deposit or any other security as specified by exchange from time to time.
 The RFQ platform will be hosted on the existing NSE Corporate Bond Reporting and Integrated Learning and Settlement (CBRICS) environment.
 In a separate announcement, the NSE said it has been recognised by Nasdaq for its achievement on the derivatives segment.
 Nasdaq, one of major stock exchange in the US has acknowledged and recognised NSE's important milestone in the Indian capital markets, as being the world's largest derivatives exchange, on its famous Nasdaq signboard in Times Square New York, the statement noted. SP SHW
SHW

NSE to launch RFQ platform for debt securities on Feb 4; BSE on Feb 3

New Delhi, Mar 6 () The National Stock Exchange (NSE) on Friday put restrictions on Yes Bank shares in various segments, including futures and options.In a rare move, capital-starved Yes Bank was on Thursday placed under a moratorium, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.The categories placed under restriction include debt, securities lending and borrowing scheme, currency derivatives, commodity derivatives, futures and options, as per notification by NSE."Due to the recent development in Yes Bank it has been decided that no fresh or renewal of bank guarantees and fixed deposit receipt issued by the bank limited will be accepted," it said.The existing benefit provided to members towards Bank Guarantees and Fixed Deposit Receipt issued by Yes Bank in favour of NSE Clearing Ltd, shall also be reduced, it added. "The financial position of Yes Bank has undergone a steady decline largely due to inability of the bank to raise capital to address potential loan and losses and resultant downgrades, triggering invocation of bond covenants by investors and withdrawal of deposits," NSE said in a separate circular.The bank has also experienced serious governance issues and practices in the recent years which have led to steady decline of the bank, it added. RUJ ANUANU

NSE puts restrictions on Yes Bank shares

<ul><li>The proposed Friday expiry of Bank Nifty coincided with the expiry of the Sensex/ <keyword id="17830938" type="General" weightage="20" keywordseo="bankex-fo" source="Orion">Bankex F&amp;O</keyword> contracts</li><li>By scheduling the above mentioned expiry on Friday, NSE was set to have an <keyword id="462223" type="General" weightage="20" keywordseo="fo-expiry" source="Orion">F&amp;O expiry</keyword> four days a week</li><li>The first Friday expiry was scheduled on July 14.</li></ul> The National Stock Exchange has withdrawn its plan of shifting the Nifty Bank derivative contracts expiry from Thursday. Earlier on June 6, the NSE had moved the expiry day for Nifty Bank Future &amp; Options (F&amp;O) contracts to Friday from Thursday effective July 7. The reason for the change in stance is that the proposed Friday expiry of Bank Nifty coincided with the expiry of the Sensex/ Bankex F&amp;O contracts that were relaunched by BSE in mid-May. “Considering the need for balanced market development and avoidance of concentration risk in the market, BSE has requested NSE to consider shifting of the <keyword id="15021649" type="General" weightage="80" keywordseo="bank-nifty-expiry" source="Orion">Bank Nifty expiry</keyword> to any day other than Friday. This will help in growing this complementing Sensex/Bankex derivatives and thus de-risk the market,” reads the joint statement from both the exchanges. In accordance with the request, the NSE has withdrawn its earlier plan. The first Friday expiry was to be on July 14. By scheduling the above mentioned expiry on Friday, NSE was set to have an F&amp;O expiry four days a week. It's noteworthy that the Nifty Financial expiry is on Tuesday, Nifty Midcap Select on Wednesday, Nifty 50 on Thursday. The Nifty Financial expiry was earlier on Thursday but it was then shifted to Tuesday. Market analysts say that this shift helped ensure that traders could concentrate on individual expiries better and worked favourably for the exchange with trading volumes going up significantly in Nifty Financial.

Bank Nifty expiry will stay scheduled on Thursday after NSE scraps earlier plan

New Delhi, May 8 () Finance Minister Nirmala Sitharaman on Friday expressed hope that trading of rupee-dollar derivatives contracts in India will generate huge volumes, given the world class business environment and competitive tax regime at GIFT-IFSC. The minister on Friday launched INR-USD futures and options contracts on the two international exchanges -- BSE's India INX and NSE's NSE-IFSC, at GIFT-IFSC in Gandhinagar, Gujarat. "Given the world class business environment and competitive tax regime at GIFT-IFSC, it is expected that trading of INR-USD contracts may bring volumes to India," she said. The finance minister opened the trading facility by ringing the bell electronically through video conference. Trading volumes on India INX have been growing phenomenally ever since the exchange commenced trading activities in January 2017, BSE said in a statement. With a cumulative trading volume of USD 822 billion since launch and international debt medium-term note (MTN) program of about USD 48 billion, India's INR-USD derivative is expected to attract more participants to the IFSC and make India INX a leading centre for raising capital for issuers across the globe, it said. In a separate statement, the National Stock Exchange (NSE) said introduction of rupee derivatives in IFSC is crucial for the development of Indian financial markets. "Rupee derivatives in IFSC would help in creating a vibrant forex market in India. This will also play an important role to bring the offshore rupee market back to India and strengthen price discovery in Indian markets," it said. The major participants in rupee derivatives contracts at NSE IFSC shall include Foreign Portfolio Investors (FPIs), corporations, IFSC Banking Units (IBUs) trading members, global banks and non-resident Indians, it added. IFSC platform offers access for the international investors and non-resident participants who currently participate in INR trading in various offshore markets and shall offer such participants an additional trading venue at par with the other offshore market platforms. Long trading hours and USD settlement at IFSC would also help to improve access for overseas participants and this shall in turn help these participants in hedging their rupee exposures effectively at IFSC. "We welcome today's launch of Rupee Dollar derivatives trading from the International Exchanges at GIFT IFSC. This new reform will enable India to become a net exporter of financial services, being in sync with the vision of GIFT City as a platform for onshoring financial services business, presently being lost to other financial centres across the world," GIFT City MD and Group CEO Tapan Ray said. With the launch of INR-USD derivatives, the trades that have migrated to other international financial centres will now return, he said, adding, India International Exchange already trades 22 hours a day and the INR-USD futures and options contract will also be available for 22 hours to all participants across the globe. To provide a single window regulatory institution which would accelerate the development of India's first IFSC at GIFT City, the government established an International Financial Services Centres Authority to regulate all financial services in International Financial Services Centres (IFSCs). Currently, banking, capital markets and insurance sectors in IFSC are regulated by multiple regulators -- the RBI, Securities and Exchange Board of India (Sebi), and Insurance Regulatory and Development Authority of India (Irdai). The then finance minister Arun Jaitley in February 2018 proposed a unified regulator for the International Financial Services Centre (IFSC) at GIFT City in Gujarat. GIFT (Gujarat International Finance Tec-City) has been set up by the state government as India's first IFSC that brings together world class infrastructure, connectivity, people and technology on a single platform for businesses across the world. DP ABMABM

India can generate big volumes in rupee-dollar derivatives trading at GIFT-IFSC: FM

New Delhi, Dec 4 () The Securities Appellate Tribunal (SAT) has asked the NSE to take a decision by Friday in the matter of suspension of trading licence of Karvy Stock Broking Ltd.
 This comes after Karvy moved to SAT against the NSE's directive which suspended the broker's licence on Monday due to non-compliance of regulatory provisions of the exchange.
 This suspension pertains to its trading in capital market, futures &amp; options, currency derivatives, debt and commodity derivatives segments.
 Karvy had allegedly misused securities of over 95,000 clients which it was holding on behalf of the clients to raise over Rs 600 crore in loans from various lenders.
 In an order passed on Tuesday, the tribunal said that Karvy would be at liberty to file an appeal under the NSE Rules.
 "In case, if such an appeal is filed, appellant (Karvy) shall be heard as expeditiously as possible and in any event shall be decided by December 6, 2019.
 "In case the relevant authority would not be able to decide the appeal within the period, the decision on the temporary stay to the impugned order may be taken by the relevant authority on or before December 6, 2019," it added.
 The National Stock Exchange (NSE) in its report to Sebi on November 22 had said that Karvy was misusing the clients' securities and various other misappropriation of the clients' securities.
 Following this, markets regulator on the same day had barred Karvy from taking new clients in respect of its stock broking activities and also prevented it from using the power of attorney (PoA) given by clients after the broker was found to have allegedly misused clients' securities.
 Separately, the tribunal on Tuesday asked NSDL not to transfer any more shares to the clients of the crippled Karvy Broking.
 The SAT order came on a plea from affected lenders -- HDFC Bank, ICICI Bank, Indusind Bank and Bajaj Finance-- which challenged NSDL's Monday decision to transfer shares from now-banned Karvy Broking back to 83,000 clients, which helped almost 90 percent of the demat accountholders of brokerage to recover their investments. SP
MKJ

SAT asks NSE to decide by Friday in Karvy's licence suspension matter

Stock <keyword id="20345915" type="General" weightage="20" keywordseo="exchanges" source="keywords">exchanges</keyword> and <keyword id="20710434" type="General" weightage="20" keywordseo="brokers" source="keywords">brokers</keyword>, catering to retail traders, could be hit hard by the regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">SEBI</keyword>'s proposed measures for Futures &amp; Options (F&amp;O) <keyword id="22748189" type="General" weightage="20" keywordseo="trading-regulations" source="keywords">trading regulations</keyword>, with market volumes slumping 30-40 %, according to reports. If these measures are implemented, the number of investors could decrease, it added. Moreover, discount brokers, who depend heavily on retail investors, are expected to be more affected than traditional full-service brokers. SEBI, in its consultation paper in July, proposed seven measures, including increasing minimum contract size and upfront collection of option premiums, intra-day monitoring of position limits, rationalisation of strike prices, removal of calendar spread benefit on expiry day and increase in near contract expiry margin. SEBI stated that these measures are aimed at enhancing <keyword id="20775670" type="General" weightage="20" keywordseo="investor-protection" source="keywords">investor protection</keyword> and promoting <keyword id="20813757" type="General" weightage="20" keywordseo="market-stability" source="keywords">market stability</keyword> in derivative markets. According to a report by Jefferies, SEBI's proposed measures to reduce the number of weekly option contracts from 18 to 6 could impact around 35% of industry premiums. However, if trading shifts to the remaining contracts, the overall impact can be reduced to 20-25%. Among its 7 proposed measures, IIFL Securities see the highest impact from the withdrawal of <keyword id="22353333" type="General" weightage="20" keywordseo="weekly-options" source="keywords">weekly options</keyword> (only 1 per exchange allowed) as index Options account for 98% of the volumes. IIFL Securities expects the National Stock Exchange (NSE) to be more affected than the BSE because 60 % of NSE's revenue comes from options trading, compared to 40% for BSE. It estimates that by the financial year 2026, NSE's earnings could be reduced by 25-30% while BSE's earnings could drop by 15-18%. Jefferies also believes that the removal of Bankex weekly contract can impact BSE's earnings per share (EPS) by 7-9% over FY25-27. It further said that BSE might see a small decline in earnings, but if trading activity shifts from discontinued products, it could offset the impact or even lead to earnings growth. "We don't see any impact on MCX from these regulations. Within the value chain, discount brokers are likely to be more impacted than traditional full-service brokers given the former's dependence on retail investors," IIFL Securities said. Jefferies believes that clearing members like Nuvama, which caters to institutional players High-Frequency Traders (HFTs), and Foreign Portfolio Investors (FPIs) are less impacted. Rationalizing weekly options to only one benchmark index per exchange will significantly affect the NSE because it currently has four weekly index expiries, with "Bank Nifty" being the most important, contributing to 50 % of its options volume. The change could reduce NSE's overall trading volumes by 30-35 %, IIFL Securities said. On the other hand, BSE is expected to be less affected since it only has two contracts, with Sensex making up 85 % of its volumes in FY24. Even if "Bankex" contributes 30% by FY26, the impact on BSE's volumes is expected to be smaller compared to NSE, it said. Additionally, with just two expiries, BSE might gain market share and experience higher trading volumes, resulting in an estimated 20 % reduction in its overall volumes, it added. Jefferies said that SEBI's proposed measure of increasing lot sizes by 3-4 times over six months could lead to higher costs for retail traders, potentially reducing their participation in the market. The proposed margin increase for options sellers close to expiry could reduce leverage and profitability, especially for retail traders with limited funds. "Finally other measures like increasing ELM (extreme loss margin) around expiry, and withdrawal of calendar spread margin on expiry will increase the margin requirements and thereby could impact the liquidity. Based on our initial estimates we expect a 30-40 % impact on market volume," IIFL Securities said. SEBI Chief Madhabi Puri Buch recently mentioned that households are losing up to Rs 60,000 crore a year in the problematic futures and options segment. Earlier, SEBI research showed retail traders lose money in nine out of 10 trades in the F&amp;O segment Last month, the government in the Union Budget raised the securities transaction tax (STT) on both futures and options trade from October 1 to allay concerns about hyperactive interest in the derivative segment. Before that, the Economic Survey flagged concerns over rising retail investors' interest in derivative trading. The survey stated that speculative trade has no place in a developing country. It also pointed out that the sharp increase in retail investor participation in F&amp;O trading is likely driven by humans' gambling instincts.

SEBI proposed F&O norms to hit exchanges, brokers, says reports

New Delhi, Jan 13 () The Securities and Appellate Tribunal (SAT) on Tuesday will hear the NSE's co-location case, wherein brokers are alleged to have received preferential access to the trading systems of the bourse.
The tribunal will hear the matters, involving the Sebi order in the NSE case, its former MD Ravi Narain and ex-CEO Chitra Ramakrishna and other executives -- Deviprasad Singh and Nagendra Kumar, as per the tribunal's cause list.
Also, the SAT will hear case involving brokers OPG Securities, GKN Securities and Way2Wealth, it added.
In September, the tribunal had asked NSE officials, including Ramakrishna, to file rejoinders within four weeks in their pleas against Sebi penalising them in the co-location case.
After an extensive probe, the Sebi in five separate orders running into 400 pages, had on April 30, last year, asked the NSE to disgorge Rs 1,000 crore, including 12 per cent interest for its alleged culpability in the case.
The order has scuttled the IPO plans of the bourse as it was banned from accessing the markets for six months or launching any new derivative products. The ban ended on October 31.
Sebi also asked Ramakrishna, Narain and two others to pay back 25 per cent of their salaries from June 2010 to March 2014. The scam came to light in 2015.
Following this, the nation's largest bourse and the people penalised for the case had challenged the order in the SAT in May 2019, seeking interim relief and full relief, saying that the Sebi orders not made a case that any trading member got any advantage because of preferential access.
The co-location case dates back to 2015, when a whistleblower wrote to Sebi alleging NSE was giving a few high-frequency traders/brokers preferential access to its servers by allowing them to place their servers in the NSE premises that benefitted both the parties at the cost of others. SP
BAL

You Searched For "NSE derivatives" and got 13 results

Meet the new CEO of NSE Ashish Chauhan, creator of Nifty and father of derivatives

Katya Naidu

No transaction fee on commodity derivatives till September: NSE

PTI

NSE emerges as world's largest derivatives exchange in 2019

PTI

SEBI approves the launch of derivatives on NSE's Nifty Financial Services Index starting January 11

IANS

India INX, NSE IFSC launch rupee-USD derivative trading

PTI

NSE resumes trading after a brief halt, stock exchanges to remain open till 5 PM

Navdeep Yadav

NSE to launch RFQ platform for debt securities on Feb 4; BSE on Feb 3

PTI

NSE puts restrictions on Yes Bank shares

PTI

Bank Nifty expiry will stay scheduled on Thursday after NSE scraps earlier plan

BI India Bureau

India can generate big volumes in rupee-dollar derivatives trading at GIFT-IFSC: FM

PTI

SAT asks NSE to decide by Friday in Karvy's licence suspension matter

PTI

SEBI proposed F&O norms to hit exchanges, brokers, says reports

PTI

SAT to hear NSE's co-location matter on Tuesday

PTI

Popular Keywords

Buying Guides