Market regulator Securities & Exchange Board of India (Sebi) has put off its decision to levy upfront margins for institutional investors in the cash market. Sebi had earlier said that institutional investors will be required to pay upfront margins from 16 June 2008.
In the light of difficulties expressed by the market participants regarding implementation of upfront margining of institutional trades in the cash market, it has been decided to keep the same in abeyance, Sebi said in a circular issued to stock exchanges today, 22 May 2008. Accordingly, institutional trades in the cash market would continue to be margined on T+1 (transaction plus one) basis till further directions, it said.
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