SECURITIES AND EXCHANGE BOARD OF INDIA
SECONDARY MARKET DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
May 20, 1999
To,
The Managing Directors/Executive Directors
of all the Stock Exchanges
Dear Sir,
Please refer to our earlier circular No. SMD/POLICY/IECG/1-97, dated February 11, 1997 and Circular No.SMDRP/POLICY/CIR-35/98 dated December 04, 1998, regarding disclosure of outstanding position.
This issue of disclosure regarding the outstanding position was further discussed in the meeting of B D Shah Committee on Short Sales held on April 26, 1999. It was noted that presently the outstanding position as reported by the members are disclosed and are not obtained from the system of the Exchange. Hence it has been decided that each stock exchange will announce scrip-wise net outstanding single sided position for top two hundred scrips traded in that stock exchange. However, in case of those exchanges where the scrips traded are less than two hundred, this information regarding all scrips traded on that Exchange will be announced. This information will be generated from the systems of the exchange.
All the Stock Exchanges are advised to implement the above with immediate effect.
Yours faithfully
P. K. BINDLISH
DIVISION CHIEF
SECONDARY MARKET, DEPOSITORY,
RESEARCH & PUBLICATIONS DEPARTMENT
E-mail: pkb@sebi.gov.in
