Description

BSE announces shifting of 29 securities from rolling segment to trade-for-trade segment with 5% price band, and retention of 15 securities in T2T segment, effective December 26, 2025.

Summary

BSE has announced the shifting of 29 securities from the rolling segment to the trade-for-trade (T2T) segment with a price band of 5% or lower, effective December 26, 2025. This includes 23 securities moving to the XT group, 3 securities to the T group, and 6 SME securities to the MT group. Additionally, 15 securities will be retained in the trade-for-trade segment. This surveillance measure restricts intraday trading and applies tighter price controls on the affected scrips.

Key Points

  • 29 securities being shifted from rolling segment to trade-for-trade segment effective December 26, 2025
  • 23 securities moving from X group to XT group
  • 3 securities moving from B group to T group
  • 6 SME securities moving from M group to MT group
  • 15 securities to be retained in trade-for-trade segment with 5% price band
  • Trade-for-trade segment eliminates intraday trading - all trades must result in delivery
  • Price band restricted to 5% or lower for all affected securities

Regulatory Changes

Securities moved to trade-for-trade segment are subject to enhanced surveillance measures including:

  • Elimination of intraday trading (squared-off positions not allowed)
  • Compulsory delivery for all trades
  • Price band restriction of 5% or lower
  • Group designation change (X to XT, B to T, M to MT)

Compliance Requirements

  • Trading members must ensure all trades in affected securities result in delivery
  • No intraday speculation or squared-off positions permitted
  • Clients must have adequate funds/securities before trading
  • Settlement through compulsory delivery mechanism only
  • Price band restrictions must be observed

Important Dates

  • Effective Date: December 26, 2025 - Securities will be shifted to respective T2T groups
  • All changes applicable from market opening on December 26, 2025

Impact Assessment

Market Impact: High - The shift to trade-for-trade segment significantly impacts liquidity in affected securities by eliminating intraday trading and speculative activity. The 5% price band further restricts price volatility.

Trading Impact: Traders cannot take speculative intraday positions in these 29 securities. All trades require full delivery, increasing capital requirements and reducing trading flexibility.

Investor Impact: Long-term investors minimally affected, but short-term traders face significant constraints. The measure aims to curb excessive speculation and protect investor interests in volatile scrips.

Liquidity Impact: Expected reduction in trading volumes due to elimination of intraday trading, potentially widening bid-ask spreads and reducing market depth.

Impact Justification

Significant surveillance action affecting 29 securities being moved to trade-for-trade segment with restricted price band, impacting liquidity and trading flexibility for affected stocks.