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CIRCULAR NO. SEBI/DNPD/CIR-40/2008, DATED 6-10-08



ELIGIBILITY CRITERIA FOR INTRODUCTION OF DERIVATIVES ON SHARES CIRCULAR NO. SEBI/DNPD/CIR-40/2008, DATED 6-10-08 This has reference to the eligibility criteria prescribed in the Circular No. SMDRP/DC/CIR-13/02 dated December 18, 2002 and Circular No. SEBI/DNPD/Cir-26/2004/07/16 dated July 16, 2004 for introduction of derivatives on shares. The Circular dated December 18, 2002 enabled the Exchanges to introduce derivatives on shares at the time of its listing in the cash market, if the net public offer was Rs. 500 crore or more. The Circular dated July 16, 2004 enabled Exchanges to consider introduction of derivatives on shares post their listing. With a view to rationalize the eligibility criteria for introduction of derivatives, it has now been decided that the Exchanges may introduce derivatives on shares fulfilling the criteria prescribed in the Circular dated July 16, 2004 irrespective of their date of listing and / or size of issue. This circular is being issued in exercise of powers conferred by sub-section (1) of section 11 of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
 

Ravikumar.G
on 09 October 2008
Published in Shares & Stock
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