March 14, 1995
The Presidents/Executive Director
of all the Stock Exchanges.
Reporting of spot and off-the-floor transactions.
The issue of reporting spot transactions and off the floor transactions has been taken up with the exchanges on several occasions.
It has been observed that even though this is a requirement under the exchange regulations, it is not being observed in actual practice.
The exchange is, therefore, directed to take steps to ensure that:-
1. Brokers are required to report all transactions done on a spot basis on the same day.2. Brokers are required to report on the same day all transactions adjusted in their books -whether between two clients or whether between a client and the broker as a principal.
The exchange is advised to inform us about the steps taken in this regard not later than April 10, 1995. The exchanges must also send a report to SEBI indicating the trading floor volumes and off-exchanges volumes separately.
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