NSE To Continue Qty Freeze

Mumbai, Nov 6: | Updated: Nov 7 2003, 05:30am hrs
In a move to curb volatilty in the market, the National Stock Exchange (NSE)has decided to continue with the conditions with respect to quantity freeze applicable for non-institutional investors. However, now this will not be applicablefor orders placed by institutional investors from November 10, 2003, as the exchange has decided to exempt such clients of trading members from the quantity freeze.

After receiving representations from the members, it was decided by the exchange that the conditions for quantity freeze will not be applicable for orders on behalf of institutions entered with participant codes.

The values would be subject to review every day. In respect of orders which have come under quantity freeze,the member would be required to confirm to the exchange about the genuineness of the order. On such confirmation, the exchange may approve the quantity freeze. However, the orders that have come under the quantity freeze may be rejected for various reasons, including non-availability of turnover/exposure limits.