Story thread · 2 reports / 2 sources

Sebi sees no CAS manipulation, eyes more participation

economictimes.indiatimes.com · 2hShare

Mumbai: The Securities and Exchange Board of India (Sebi) has not observed any manipulation in the newly introduced closing auction sessions, chairman Tuhin Kanta Pandey said Wednesday, attributing the recent divergence in two major indices to circumspect trader participation in the first few days of the new system."We are considering all inputs to increase participation," Pandey said on the sidelines of the Global Commodity Conclave in Mumbai. Any new mechanism, like the new process to determine closing prices of securities, needs time to settle and attract more participation, Pandey said.The closing auction sessions (CAS), Pandey said, brought in 'major market-structure reforms' and CAS was in line with global practices. Pandey, however, acknowledged that the new system, introduced August 3, has caused concerns over lower participation and its impact on some market participants.Read more: CAS chaos: Retail traders call for boycott, declare 'No Trade Day'The CAS replaced the earlier p

First report: 'No trade on August 12': CAS angers retail traders, boycott campaign gains traction — businesstoday.in, 2d