Trading members and other market participants are aware that as a part of Exchange’s role towards ensuring market integrity, BSE is continuously looking for further strengthening of the market regulation framework particularly in respect of securities of companies that are only listed/traded at BSE, considering their specific characteristics such as large number of companies, low to moderate market capitalization, lower contribution to overall trading turnover and relatively higher attention required to be devoted to these securities by the Exchange, from a regulatory due diligence and monitoring standpoint.
It is therefore decided to classify equity securities of companies that are only listed/traded at BSE and satisfy certain parameters into separate sub-segments called "XC", “XD” and "XT", effective from November 2, 2015.
Criteria for exclusion from “XC’, “XD” and “XT” sub-segments:
Securities that do not fall within any of the above exclusions would be eligible for classification under “XC”, “XD” and “XT” sub-segments as under:
1) those securities thathave a 6 monthly average (full) market cap of more than Rs. 100 crores but less than Rs. 1000 crores and have more than 1000 public shareholders are classified in "XC" sub-segment.
2) the balance securities are classified in "XD" sub-segment.
3) further, securities falling in ‘DT’ and ‘T’ groups at present that do not satisfy any of the above exclusions are classified under “XT” sub-segment.
Daily, Weekly, Monthly, Quarterly and Annual Price Bands effective from October 1, 2015 (refer to notice no.20150806-24 of August 6, 2015 and notice no.20150930-36 of September 30, 2015) would apply to the securities classified under all the above 3 sub-segments.
Alphabetical list of securities that are being shifted under sub-segment "XC", “XD” and "XT" is attached as Annexure I. It may be noted that review of this sub-segment will be carried out on half yearly basis.
For & on behalf of BSE Ltd.
Khushro Bulsara Girish Joshi
Sr Gen Manager – Listing Compliance Sr Gen Manager – Listing Operations