Securities and Exchange Board of India
CIRCULAR
CIR /MRD /DSA /31/2012
November 27, 2012
To
The Managing Director/Executive Director
of all Stock Exchanges, Clearing Houses/Corporations
Dear Sir / Madam,
Sub: Inventory Management for Market Makers of SME Exchange / Platform
1. SEBI vide circular dated April 26, 2010 has issued guidelines for market makers on stock exchange/trading platform by a recognized stock exchange having nationwide trading terminals for Small and Medium Enterprises (SMEs).
2. Further, SEBI vide circular dated May 18, 2010 prescribed the framework for setting up of a stock exchange/trading platform by a recognized stock exchange having nationwide trading terminals for Small and Medium Enterprises (SMEs).
3. In this regard it has been decided to make applicable, limits on the upper side for market makers during market making process taking into consideration the issue size in the following manner –
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