Abstract
The paper studies compliances of Futures Trading rules and regulations of the Stock Exchange .in the derivate market in India. The paper applies case method approach to study the trading practices of trading members of the Exchanges. It investigates the derivative market’s misuses and abuses by the trading members of the Exchange. The paper provides guidance for the appropriate regulatory framework to curtail violations of rules and regulations in Indian derivative market, and enables the investor protection. The results may be generalized in the emerging markets. Hence, researchers are encouraged to study results further in other developed countries. The paper finds that these practices are not only violation of trading rules of the Stock Exchange but also unfair and unethical trading practices. The research findings and results may lack generalizability in a case study approach.
Highlights
This paper is an appeal matter referred to the appellate tribunal by the Stock Exchange of India Ltd (SEBI2010)
This appeal has been preferred against the award passed by the arbitrators with regard to a dispute between Mr Prasad Reddy (Constituent and Applicant) and Zebra Securities Ltd, (Trading Member and Respondent) regarding squaring off the client’s open positions in Futures segment by the trading member on account of margin short fall
1.1Ground for the Appeal Appellant submits that the original panel of arbitrators had incorrectly and arbitrarily upheld its arbitration application, and directed them to pay Rs.36.78 million to Mr Prasad Reddy, the respondent
Summary
This paper is an appeal matter referred to the appellate tribunal by the Stock Exchange of India Ltd (SEBI2010). This appeal has been preferred against the award passed by the arbitrators with regard to a dispute between Mr Prasad Reddy (Constituent and Applicant) and Zebra Securities Ltd, (Trading Member and Respondent) regarding squaring off the client’s open positions in Futures segment by the trading member on account of margin short fall.
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