Sebi chairman DR Mehta said on the sidelines of the seminar on mutual funds that the markets regulator was ready with all the preparations for commencing rolling settlements in the forward group and had discussions with the stock exchanges across the country for the purpose. On Wednesday, the stockmarkets were abuzz with rumours that the regulator had delayed the proposed introduction of rolling settlements in that group.

Mr Mehta said the only technical issue on the rolling settlement front was the development of the trading software to put these stocks on the rolling mode, since the products for hedging in this mode had already been drawn up by Sebi and circulated to the stock exchanges.

In addition, the stock exchanges were also gearing up with modifications to the software for badla and automated lending and borrowing mechanism (ALBM) products.

Meanwhile, during the day, Bombay Stock Exchange (BSE) came out with a statement categorically denying reports in a section of the press which had talked of the rolling settlement being delayed. The statement said:"BSE has not asked for any extension of time for introduction of carryforward in rolling settlement beyond the Sebi-stipulated timeframe". It also said that in the meeting at Sebi on Wednesday, no discussion was held about the likely date of the introduction of rolling settlement in forward stocks.

Asked on the number of forward scrips which would be brought under the rolling mode, Mr Mehta said the number of stocks was yet to be decided upon, but added that Sebi was committed to introducing rolling settlement in all the forward stocks. The markets had also been agog with talk that 10 stocks would be introduced in the first phase when forward stocks go into the rolling mode.