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SEBI readying stock crash protection measures

Source : REUTERS
Last Updated: Fri, Nov 23, 2012 05:41 hrs
People walk pass BSE building in Mumbai

MUMBAI (Reuters) - The Securities and Exchange Board of India (SEBI) will soon announce measures to protect investors against stock crashes after a set of erroneous orders from Emkay Global sent shares tumbling last month, 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 <.NSEI> falling as much as 15.5 percent 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.

(Reporting by Abhishek Vishnoi and Rafael Nam; Editing by Sunil Nair)




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