Corporate Updates – 09-08-2016


SEBI has proposed a new framework for super-fast algorithm (algo) trading by suggesting random ‘speed bumps’ and separate queues for algo and non-algotrades by releasing a Discussion Paper ‘Strengthening of the Regulatory framework for Algorithmic Trading & Co-location’. Algorithmic trading or ‘algo’ in market parlance refers to orders generated at a super-fast speed by use of advanced mathematical models that involve automated execution of trade, while co-location involves setting up servers on the exchange premises. SEBI has proposed to introduce resting time for order, random delays and random speed bumps, separate queues for co-location and non-co-location orders for strengthening the regulatory framework for algo trading and Co-location facility. SEBI has sought public comments on the proposal till August 31 and final guidelines would be put in place after taking into account views of all the stakeholders. The move is expected "to discourage latency sensitive strategies as such delays would affect HFT (High Frequency Trade) but would not deter non-algo order flow for which delay in milliseconds is insignificant.


Pursuant to MCA notifying the Companies (Indian Accounting Standards) Rules, 2015, RBI has notified that select All-India Term Lending and Refinancing Institutions (AIFIs) (Exim Bank, NABARD, NHB and SIDBI), shall follow the Indian Accounting Standards as notified under the Companies (Indian Accounting Standards) Rules, 2015, subject to any guideline or direction issued by the Reserve Bank in this regard. AIFIs shall comply with the Ind AS for financial statements for accounting periods beginning from April 1, 2018 onwards, with comparatives for the periods ending March 31, 2018 or thereafter. Ind AS shall be applicable to both standalone and consolidated financial statements. Further, AIFIs shall disclose in their Annual Report, the strategy for Ind AS implementation, including the progress made in this regard. These disclosures shall be made from the financial year 2016-17 until full implementation.

News from NIRC of ICSI

NIRC of ICSI has decided to start fortnightly "PCS HELPLINE" to provide guidance / counseling in respect of problems and difficulties being faced by our members. In this series, NIRC is organizing "PCS HELPLINE” programme on 10th August, 2016, to resolve the queries over telephone regarding Technical / Procedural / Interpretation issues relating to the topic “Technical Issues Relating To E-Filing” by CS S Bhasker, Principal Consultant, MCA21 Project of MCA, Infosys LTD, will be available to answer the queries telephonically, on 10th August, 2016 from 4.00 PM to 5.30 PM at 011-4934 3001.

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