SEBI Bhavan at BKC, Mumbai (Page 33)

In secondary market also, the SEBI is taking different initiatives, like cross margin listen, stock lending & borrowing mechanism , direct access to market etc. What are the response to these measures?

As a regulator SEBI encourages competition. Competition is best encouraged by laying down clear rules and following transparent regulatory processes. It is unfortunate that BSE has not been able to develop the F&O segment in equities. It is for BSE management to remedy the situation. Ultimately BSE
has to offer a product and a level of service that the market will find attractive.

We had invited applications from the exchanges willing to offer currency futures trading. Of the applications, one entity namely, NSE has so far been given an in-principle approval. Others are in various stages of preparation. It would be reasonable to expect that the trading in currency futures will start very soon.

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