MADRAS STOCK EXCHANGE LIMITED (MSE)

PUBLIC NOTICE
MADRAS STOCK EXCHANGE LIMITED (MSE)
FOR THE KIND ATTENTION OF :
TRADING MEMBERS OF MADRAS STOCK EXCHANGE LIMITED AND
INVESTORS OF EXCLUSIVELY LISTED COMPANIES WITH MADRAS
STOCK EXCHANGE LTD.
MSE EXCLUSIVELY LISTED COMPANIES ON THE “DISSEMINATION BOARD”
OF NATIONAL STOCK EXCHANGE OF INDIA LTD. (NSE)
PREAMBLE:
Securities and Exchange Board of India vide its circular CIR/MRD/DSA/14/2012
dated May 30, 2012 had inter alia revised guidelines in respect of exit policy for derecognition/non-operational stock exchanges and exit option to shareholders of
exclusively listed companies of de-recognized / non-operational stock exchanges..
Companies listed exclusively on exiting or de-recognised RSEs were required to
seek listing on at least one other Exchange that is not seeking de-recognition and
exit in terms of the aforesaid SEBI Circular. As per the aforesaid SEBI Circular,
company failing to list on other Exchange shall be ceased to be a listed company
and shall be moved to Dissemination Board (DB) of a nation wide Stock Exchange by
such “exiting” Exchange.
SEBI vide letter No. MRD / DSA / OW / 29186 / 2014 dated 8th October 2014 sent a
communication to Madras Stock Exchange Ltd., (MSE) advising that the exclusive
companies of MSE shall be placed on the Dissemination Board of National Stock
Exchange of India Ltd., (NSE) including the companies referred for declaring as
vanishing companies. Accordingly , MSE has arranged to place 195 exclusively listed
companies of MSE on the Dissemination Board of NSE and as per the NSE Circular
of 28th November, 2014 these companies are available for placing orders for buying
and selling on the Dissemination Board of NSE with effect from 1st December, 2014.
Features of Dissemination Board (DB) at NSE :
NSE has set up a Dissemination Board enabling dissemination of bids/Offer placed
by buyers and sellers of securities of companies that are listed exclusively on exiting
or de-recognised RSEs using the services of the Trading Members of NSE.
Buyer and Seller related
1. A willing buyer and seller will be given an opportunity to place their offers
using the services of the registered trading members of the Exchange. Hence
buyers and sellers shall get themselves registered with the trading members
of the Exchange.
2. The offers shall be related to the securities of companies that are admitted on
the Exchange’s Dissemination Board.
3. The buyers and sellers shall bid/offer through their respective registered
trading member of the Exchange and such buyer/seller shall communicate
through these trading members of the Exchange. Trading members shall
carry out the necessary compliance related to Know Your Client registration
with KYC Registration Agency.
Offer/Bid related and other information
1. To facilitate wider participation, dissemination board will be hosted in the
Capital Market Segment of the Exchange.
2. Market type for Dissemination Board would be in the Normal Market
Segment.
3. Offers shall be put only through registered trading members of the Exchange
and all the registered trading members for capital market segment would be
eligible to participate on the dissemination board.
4. Order matching shall be done on the basis of matching of price and quantity.
5. The offers placed on the Exchange’s dissemination board shall remain valid
for the day.
6. No contract note would be issued for matched bids/offers resulting out of the
dissemination board.
7. No margin payments shall be applicable.
8. The matched orders will not be settled through the Exchange / Clearing
Corporation and shall be settled bilaterally between the buyer and the seller.
The matched order shall be treated as principal to principal contract between
the buyer and seller and trading member will not have any obligation to settle
the trade.
9. There will be no recourse to the settlement guarantee fund, investor
grievance redressal mechanism including arbitration and investor protection
fund of the Exchange for the matched bids/offers resulting out of Exchange’s
Dissemination Board.
10. The Exchange shall not overview the bids/offers as a matter for surveillance.
11. Rules, Regulations and Bye-Laws of the Exchange would not be applicable to
the matched bids/offers resulting out of the Dissemination Board.
12. A separate webpage has been created on www.nseindia.com for the
dissemination
board:
http://www.nseindia.com/invest/content/dissemination_board.htm
The
webpage contains information regarding the Exiting Stock Exchange, Symbol,
Series and other details with respect to the Company, paid up capital,
registered address, details of the promoters and directors and annual report.
Further, information received from the companies shall be disseminated by
the
Exchange
on
the
said
webpage.
http://www.nseindia.com/invest/content/diss_secinfo.htm
13. The details of the offer like order date, security name, number of securities,
price, ISIN, buyer client, seller client shall be made available in the form of
report on www.nseindia.com.
The List of Exclusive Companies moved to the Dissemination Board of NSE is
mentioned hereunder and the same is also available on the website of NSE at
http://www.nseindia.com/content/circulars/CML28213.pdf
Investors are requested to refer to and rely on the Circular/Guidelines issued by SEBI
and NSE from time to time before using the facility of NSE DB.
RAMANATHA N. KOTAGAL
MANAGING DIRECTOR

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