Description

BSE announces shift of 25 securities from rolling segment to trade-for-trade segment with 5% price band effective January 08, 2026.

Summary

BSE has announced the shifting of 24 securities from the rolling segment to the Trade-for-Trade (T2T) segment and 1 SME security to T2T segment, effective January 08, 2026. These securities will have a price band of 5% or lower and will be subject to mandatory delivery-based trading with no intraday squaring off permitted. Additionally, 25 securities will be retained in the T2T segment with the same price band restrictions.

Key Points

  • 24 securities moving from Rolling segment (Group X and B) to T2T segment (Group XT and T)
  • 1 SME security (Tranway21 Technologies Ltd) moving from Group MS to Group TS
  • Changes effective from January 08, 2026
  • Price band restricted to 5% or lower for all affected securities
  • 25 securities to be retained in existing T2T segment with 5% price band
  • T2T trading requires compulsory delivery and settlement
  • No intraday trading allowed for these securities

Regulatory Changes

Securities are being moved to Trade-for-Trade segment as a surveillance measure. In T2T segment:

  • All transactions must result in delivery
  • Intraday squaring off is not permitted
  • Buyers must take delivery and sellers must deliver securities
  • Price movement restricted to 5% or lower circuit limits
  • Enhanced monitoring and surveillance applicable

Compliance Requirements

For Investors:

  • Must have sufficient funds/securities before placing orders
  • Cannot engage in intraday trading in these scrips
  • Must fulfill delivery obligations on T+2 basis
  • Should be prepared for reduced liquidity

For Trading Members:

  • Must ensure clients understand T2T restrictions
  • Should collect adequate margins upfront
  • Must monitor delivery obligations
  • Need to update surveillance systems for these securities

Important Dates

  • Circular Date: January 05, 2026
  • Effective Date: January 08, 2026 (Wednesday)
  • All securities will move to respective T2T groups from market opening on this date

Impact Assessment

Market Impact:

  • Significantly reduced liquidity in affected securities
  • Wider bid-ask spreads expected
  • Deterrent to speculative trading activity
  • Only genuine investors willing to take delivery will participate

Investor Impact:

  • Intraday traders cannot trade these securities
  • Increased capital requirements due to delivery obligation
  • Limited exit options due to reduced liquidity
  • Higher transaction costs due to wider spreads

Operational Impact:

  • Brokers need to update risk management systems
  • Enhanced pre-trade checks required
  • Margin collection processes need adjustment
  • Client communication and education required

This measure is typically applied to securities showing excessive price volatility, unusual trading patterns, or other concerns requiring enhanced surveillance.

Impact Justification

Significant trading restrictions on 25 securities affecting liquidity and investor ability to trade; T2T segment prevents intraday trading and requires mandatory delivery