1.

2.

Simple to Complex

Supply > Demand

Information Technology

One world

New Type of Industry

Job Profile Changing

Security to Performance

Eligibility of Jobs-

Not Qualification butUniqueness

3.

Legislations

• Capital Issues (Control) Act,1947

• SEBI Act, 1992

• Securities Contract (Regulation) Act,1956

• Depositories Act, 1996

• Companies Act, 1956

Regulators

• DEA, DCA, RBI and SEBI

Instruments

• Traditional

• Modern-Derivatives, Exchange Traded Funds, Euro Issues etc.

Services

• Underwriting, Merchant Banking, Custodial Services

Intermediaries

Underwriter, Broker, Banker, Registrar, Advisors etc.

4. Structure of Capital Market in India

Market Segments

• Primary and Secondary

Regulators

• SEBI, RBI, DCA, DEA

Legislations

• Capital Issues (Control) Act,1947

• SEBI Act, 1992; Depositories Act,1996

• Securities Contract Regulation Act 1956

• Companies Act, 1956

Participants

• Issuers, Intermediaries, Investors

5. 6. 7. Broad Structure of Secondary Market as on March 31,2003 8.

Objectives

• Improving Market Efficiency

• Enhancing Transparency

• Preventing Unfair Trade Practices

• Integration with International Markets

Actions

• Liberalise

• Regulate

• Develop

9.

SEBI ACT,1992

• Protect-Promote-Regulate

Disclosure and Investor Protection Guidelines (DIP)

Free Pricing

Book Building

Screen Based Trading

Internet Trading-Mobile Trading

10.

Trading Cycle

• T+5, T+3, T+2, T+1

Derivatives Trading (June 2000)

Demutalisation and Corporatisation

• Ownership-Management-Trading Membership

Depositories

• NSDL and CDSL

Risk Management

• Capital Adequacy, Margin, monitoring, Trade/Settlement Guarantee Fund

Investor Protection and Education

11.

Globalisation

• ADR, GDR, FCCBs, ECBs, FIIs, IDRs

Miscellaneous

• e-IPOs,

• ESOPs,

• Buy back,

• Private Placement,

• Bought out Deals,

• OTCEI, NSE, ICSEI,

• Regional Stock Exchanges

12.