Securities and Exchange Board of India (SEBI)
DEPUTY GENERAL MANAGER
Market Regulation Department
E-mail: [email protected]
February 25, 2004
The Executive Directors / Managing Director/Administrators
of All Stock Exchanges
Dear Sir / Madam,
Sub: Issuance of Electronic Contract Notes – Debt Market
1. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately.
2. bring the provisions of this circular to the notice of the member brokers/clearing members of the Exchange and also to disseminate the same on the website.
3. communicate to SEBI, the status of the implementation of the provisions of this circular in Section II, item no. 13 of the Monthly Development Report for the month of March 2004.
2. This is in continuation of SEBI Circular No.DNPD/Cir-9/04 dated February 3, 2004 specifying the model format on the captioned subject for the equity market.
3. The model format for the issuance of electronic contract note for the debt market is enclosed. Based on this, the exchanges are advised to prescribe a standard format for issuance of the electronic contract note in its bye-laws, rules and regulations.
4. The other requirements as mentioned in points 2, 3 and 4 of aforesaid circular dated 03/02/04 are applicable for debt market as well and accordingly, required to be complied with.
5. The Stock xchanges are directed to;
6. This circular is being 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 in securities and to promote the development of, and to regulate the securities market.
V S SUNDARESAN
Encl : As above