Description

BSE moves 15 securities from rolling segment to trade-for-trade with 5% price band effective August 21, 2025.

Summary

BSE has announced the movement of 15 securities from rolling segment to Trade-to-Trade (T2T) segment with a 5% or lower price band, effective August 21, 2025. Additionally, 24 securities will be retained in the T2T segment.

Key Points

  • 14 securities moving from X group to XT group (Trade-to-Trade)
  • 1 security moving from B group to T group (Trade-to-Trade)
  • 1 SME security moving from M group to MT group
  • 23 securities retained in XT group, 1 retained in MT group
  • All changes effective from August 21, 2025
  • Price band restriction of 5% or lower applies

Regulatory Changes

Securities moved to Trade-to-Trade segment will have:

  • Mandatory delivery-based trading (no intraday allowed)
  • 5% or lower price band restriction
  • T+1 settlement cycle
  • Increased margin requirements

Compliance Requirements

  • Brokers must ensure clients understand T2T trading restrictions
  • All trades in these securities must result in delivery
  • Clients must have sufficient funds/securities for settlement
  • No carry forward positions allowed

Important Dates

  • Effective Date: August 21, 2025 - All specified securities move to/remain in Trade-to-Trade segment

Impact Assessment

The move to T2T segment typically indicates:

  • Increased surveillance due to price volatility or other concerns
  • Reduced liquidity due to delivery-only trading
  • Higher capital requirements for traders
  • Potential impact on institutional participation
  • Protection for retail investors through restricted price movement

Impact Justification

Affects trading mechanism for 15 securities with restricted price movement and T+1 settlement