There is no consensus among market participants on extension of market hours, something recently permitted by Securities and Exchange Board of India, said Mr Ravi Narain, Managing Director of NSE, here today.
“We would love the market to build consensus on what makes sense for them, and we will respond. Some segments of the market are interested in longer hours but the majority of the market seems to be interested in retaining the hours as they are,” Mr Narain said on the sidelines of the Indian Securities Forum here.
“The systems at the exchanges are not a problem, the real concern is the facility to transfer money and margins within the banking system from upcountry.
The second concern is the back-office system, especially of the smaller brokers,” he added.Faster listing
One year from now, Indian companies may be able to list within seven days of closure of their IPOs.
The market regulator plans to reduce the closure-to-listing time from 20 to seven days, as a longer time span makes it too risky for the issuer and the investor, said the SEBI Chairman, Mr C. B. Bhave.
“We are planning on implementing this over the next one year,” he said.
SEBI is also working on extending the Applications Supported by Blocked Amount (ASBA) facility available to institutional investors, Mr Bhave said.
About 25 per cent of retail applications for IPOs come through ASBA, he said.
The stock market regulator might also reduce the cost of mutual fund transactions and tighten regulations for portfolio management.
“We would love the market to build consensus on what makes sense for them, and we will respond. Some segments of the market are interested in longer hours but the majority of the market seems to be interested in retaining the hours as they are,” Mr Narain said on the sidelines of the Indian Securities Forum here.
“The systems at the exchanges are not a problem, the real concern is the facility to transfer money and margins within the banking system from upcountry.
The second concern is the back-office system, especially of the smaller brokers,” he added.Faster listing
One year from now, Indian companies may be able to list within seven days of closure of their IPOs.
The market regulator plans to reduce the closure-to-listing time from 20 to seven days, as a longer time span makes it too risky for the issuer and the investor, said the SEBI Chairman, Mr C. B. Bhave.
“We are planning on implementing this over the next one year,” he said.
SEBI is also working on extending the Applications Supported by Blocked Amount (ASBA) facility available to institutional investors, Mr Bhave said.
About 25 per cent of retail applications for IPOs come through ASBA, he said.
The stock market regulator might also reduce the cost of mutual fund transactions and tighten regulations for portfolio management.
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