The country’s premier bourse, Bombay Stock Exchange (BSE) on Wednesday announced that it will exclude Jignesh Shah-led Financial Technologies (FTIL) from trading in the securities lending and borrowing (SLB) segment with effect from November 8, 2013.
It may be noted that the securities lending and borrowing (SLB) mechanism allows short sellers to borrow securities for making delivery.
“FTIL shall not be available for trading in the SLB segment with effect from November 8, 2013,” BSE said in a circular. Shares with an average monthly trading turnover of Rs 100 crore or more in the previous six months are eligible for trading in SLB segment, according to the market regulator Sebi guidelines.
Besides, shares with market-wide position limit (which indicates the investors’ interest in a share) of at least Rs 100 crore is also eligible for the inclusion in SLB scheme.
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