Description

BSE announces securities being added to, continuing in, and moving out of the Short Term ASM framework effective September 3, 2025.

Summary

BSE has announced updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective September 3, 2025. The circular lists 13 securities being newly added to the ST-ASM framework, 1 security continuing in ST-ASM but moving to a higher stage, and 8 securities moving out of the ST-ASM framework.

Key Points

  • 13 securities are being shortlisted in the Short Term 5/15/30 Days ASM Framework
  • Kaushalya Infrastructure Development Corporation Ltd will continue in ST-ASM but move to a higher stage
  • 8 securities are moving out of the ST-ASM Framework, including transitions to LT-ASM, Trade for Trade, GSM, Pledge, and ESM frameworks
  • Changes are effective from September 3, 2025
  • The framework includes both regular BSE securities and SME scrips

Regulatory Changes

The Short Term ASM framework is being updated with new inclusions and removals. Securities in the ST-ASM framework are subject to additional surveillance measures including higher margin requirements and periodic reviews. Some securities are transitioning to other surveillance frameworks including Long Term ASM (LT-ASM), Enhanced Surveillance Measure (ESM), and Trade for Trade frameworks.

Compliance Requirements

Brokers and trading members must:

  • Apply appropriate margin requirements for securities in the ST-ASM framework
  • Monitor positions in these securities more closely
  • Ensure compliance with the surveillance framework requirements
  • Update their systems to reflect the changes effective September 3, 2025

Important Dates

  • September 3, 2025: All changes to the ST-ASM framework become effective
  • Securities will be subject to their respective surveillance measures from this date

Impact Assessment

The inclusion of securities in the ST-ASM framework typically results in reduced liquidity and increased margin requirements. Securities moving out may experience improved liquidity conditions. Scan Projects Ltd is transitioning to LT-ASM indicating continued surveillance concerns. Yash Chemex Ltd is moving to ESM framework suggesting enhanced monitoring requirements. Investors holding these securities should be aware of potential trading restrictions and margin implications.

Impact Justification

Surveillance measures affect trading but are routine risk management actions, impacting multiple securities