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Capital market regulator Securities and Exchange Board of India (SEBI) on Tuesday announced a new deadline for market entities and investors to prepare for its provisions to promote safer retail participation in algorithmic trading. The development comes after stock brokers and industry standard forum participants requested SEBI to extend a deadline to implement previsions laid out in its circular dated February 4.
The provisions and guidelines, as laid out in the circular, will now take effect on October 1, instead of the original deadline of August 1, according to SEBI.
The extension will enable smooth implementation of the said provisions "without any disruption to the markets players and investors", SEBI noted.
The development gives investors and market entities additional two months to prepare for those provisions.
SEBI has directed stock exchanges to notify all their members about the circular and make the information available on their websites, devise systems to ensure a strict eforcement of norms, and make necessary changes to applicable and relevant bye-laws to implement the provisions detailed in the circular.
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