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Sebi readying stock crash protection measures

We are going to take some measures so that there is some pre-check in orders and pricing, says Sebi chairman
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First Published: Fri, Nov 23 2012. 11 18 AM IST
Sebi chairman U.K. Sinha. Photo: Abhijit Bhatlekar/Mint
Sebi chairman U.K. Sinha. Photo: Abhijit Bhatlekar/Mint
Updated: Fri, Nov 23 2012. 11 19 AM IST
Mumbai: India’s market regulator will soon announce measures to protect investors against stock crashes after a set of erroneous orders from an Indian broker sent shares tumbling last month, Securities and Exchange Board of India (Sebi) chairman U.K. Sinha said on Friday.
Sebi has been working on measures after misplaced orders worth more than $125 milion sent the broader NSE index falling as much as 15.5% in October, before trading was halted for around 15 minutes.
“We are going to take some measures so that there is some pre-check in orders, pricing and there are some other checks also introduced,” as the market regulator looks to avoid similar incidents, Sinha said.
Sinha did not give further specifics or say when the measures would be introduced. REUTERS
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First Published: Fri, Nov 23 2012. 11 18 AM IST
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