Description

BSE updates on securities entering, continuing, and exiting Short Term ASM framework effective August 25, 2025

Summary

BSE has announced updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective August 25, 2025. The circular identifies 11 new securities entering the ST-ASM framework and 6 securities exiting the framework. The ST-ASM applies trading restrictions including higher margins and delivery obligations to securities showing abnormal price movements.

Key Points

  • 11 securities newly shortlisted for ST-ASM framework including Cityman Ltd, Fundviser Capital, KIOCL Limited
  • 6 securities moving out of ST-ASM framework including Eureka Industries and Pentokey Organy
  • Some securities exiting ST-ASM due to inclusion in other surveillance frameworks (LT-ASM, Trade for Trade, ESM)
  • Framework includes SME scrips and T+0 scrips based on parent company classification
  • No securities moving to higher or lower stage ASM within ST-ASM framework

Regulatory Changes

Implementation of Short Term 5/15/30 Days ASM Framework with specific entry and exit criteria for securities showing unusual price and volume behavior. Securities under ST-ASM face enhanced margin requirements and mandatory delivery obligations.

Compliance Requirements

  • Trading members must ensure compliance with enhanced margin requirements for ST-ASM securities
  • Mandatory delivery settlement for transactions in ST-ASM securities
  • Position limits and additional surveillance measures apply
  • Regular monitoring of price and volume parameters for listed securities

Important Dates

  • August 25, 2025: Effective date for all ST-ASM framework changes
  • New securities enter ST-ASM framework
  • Specified securities exit ST-ASM framework

Impact Assessment

The ST-ASM framework aims to curb excessive speculation and ensure orderly trading. Securities entering the framework will face trading restrictions that may reduce liquidity and increase transaction costs. Investors in affected securities should prepare for higher margin requirements and mandatory delivery obligations. The exit of some securities indicates improved trading patterns or migration to other appropriate surveillance measures.

Impact Justification

Affects trading parameters for multiple securities under surveillance framework