Description
BSE updates Enhanced Surveillance Measure framework with new securities additions and stage changes effective August 28, 2025.
Summary
BSE has updated its Enhanced Surveillance Measure (ESM) framework effective August 28, 2025. The update includes addition of 3 new securities to ESM, movement of 13 securities to higher ESM stages, and a consolidated list of all securities currently under ESM framework with their respective stages.
Key Points
- 3 new securities added to ESM framework: IZMO Ltd, Oceanic Foods Ltd, and Subam Papers Ltd
- 13 securities moved to higher ESM stages including AGS Transact Technologies, Containerway International, and others
- No securities moved to lower ESM stages
- No securities removed from ESM framework
- Consolidated list shows securities across ESM Stage I and Stage II
Regulatory Changes
- Enhanced surveillance measures will apply to newly added securities
- Existing securities under ESM will face stricter surveillance with higher stage classifications
- Framework continues focus on risk management and market integrity
Compliance Requirements
- Market participants must comply with enhanced surveillance requirements for affected securities
- Trading in ESM securities subject to additional monitoring and restrictions
- Brokers and investors should be aware of enhanced surveillance conditions
Important Dates
- Effective Date: August 28, 2025 - All ESM framework changes take effect
Impact Assessment
- Trading Impact: Securities under ESM face enhanced monitoring which may affect trading volumes and investor participation
- Market Risk: Higher surveillance stages indicate increased regulatory scrutiny for risk management
- Investor Awareness: Market participants need to understand ESM implications for affected securities
- Operational Impact: Exchanges and brokers must implement enhanced monitoring systems for ESM securities
Impact Justification
Affects trading conditions for multiple securities under enhanced surveillance framework