Market Rights SEBI issued Standard Operating Procedure (GOP) for the conduct of share trading. Under this, the share trading was asked to inform within 15 minutes of its occurrence in every matter related to any kind of hindrance during the course of business. Along with this, in some cases of business being affected, the loading hours were also asked to be increased.
The move comes amid a few cases of company systems being affected due to technical glitches among share users. The Securities and Exchange Board of India (SEBI) said in a global, “If trading in the stock market is affected due to technical reason or any other reason, not only MIIs (market infrastructural institutions ie stock exchanges, depositories, clearing corporations etc.) including All market marketing should be informed to do business, if needed, business hours should also be increased, so that the secret of day trading can be done.
Under the SPOP, in case of suspension of trading due to any reason, the stock exchange has to inform about this market video, within 15 minutes to the members of the company including MII in various countries. Will have this information on its website along with broadcast message for information.
Further, the stock exchange will receive its intimation statement to SEBI through a separate e-mail.
In addition, early notification of the affected stock market will give information about the situation on 45 minutes of notification. This will continue till the situation becomes normal. With regard to the extension of one hour, SEBI said that once the functioning on the affected stock exchange goes back to normalcy at least one hour before the close of normal trading, on that day the staff in all the stock exchanges shall work the working hours.
If trading does not return to normal one hour before the market closes, the trading hours for all share integers will automatically pay the increased wages for the additional loading hours.