Description

BSE circular on securities shortlisted, moved, or exiting the Long Term Additional Surveillance Measure (LT-ASM) framework effective November 07, 2025.

Summary

BSE has issued updates to the Long Term Additional Surveillance Measure (LT-ASM) framework effective November 07, 2025. Two securities (Duke Offshore Ltd and Libord Finance Ltd) are being newly shortlisted in LT-ASM, while one security (Continental Controls Ltd) is moving out due to inclusion in ESM Framework. No securities are moving between ASM stages.

Key Points

  • 2 securities newly shortlisted in Long Term ASM Framework: Duke Offshore Ltd (531471) and Libord Finance Ltd (511593)
  • 1 security moving out of LT-ASM: Continental Controls Ltd (531460) due to inclusion in ESM Framework
  • No securities moving to higher or lower ASM stages
  • No securities shortlisted in Direct Stage IV LT-ASM Framework
  • Changes effective from November 07, 2025
  • Consolidated list includes 16+ securities across various ASM stages (I and IV)

Regulatory Changes

The Long Term ASM Framework applies enhanced surveillance measures to securities identified based on specific risk parameters. Securities in this framework face additional trading restrictions and monitoring to protect investor interests.

Compliance Requirements

  • Trading members must note the revised LT-ASM list effective November 07, 2025
  • Securities in LT-ASM framework subject to specific trading conditions and restrictions
  • Investors and market participants should be aware of surveillance status when trading these securities
  • Special marking conventions apply: (*) for Trade for Trade, (#) for GSM, ($) for ESM, (&) for IBC, (~) for T+0 scrips

Important Dates

  • Effective Date: November 07, 2025 - All LT-ASM changes come into effect

Impact Assessment

Market Impact: Limited impact affecting only 3 securities with changes (2 entering, 1 exiting). The surveillance measure aims to curb excessive speculation and protect investor interests in securities exhibiting abnormal price movements or trading patterns.

Operational Impact: Trading members need to update their systems to reflect the new LT-ASM status. Securities entering LT-ASM will face enhanced monitoring and potential trading restrictions including higher margins, reduced position limits, or trade-for-trade settlement.

Investor Impact: Investors holding or trading Duke Offshore Ltd and Libord Finance Ltd should be aware of enhanced surveillance and associated trading restrictions. Continental Controls Ltd investors benefit from the security exiting LT-ASM, though it enters ESM Framework.

Impact Justification

Affects specific securities entering or exiting surveillance framework; limited to 3 securities with direct impact on trading conditions