The Hindu Business Line : BSE quote system to create liquidity

Under the scheme, quote system would be re-introduced on the BOLT system only for these scrips. In quote system, two way quotes are present where, both the buy price and the sell price is indicated.

The scheme would be implemented from April 19 on the BOLT system and would be operational for an initial period of three months, BSE said in a statement. Members can enter both quotes and orders at the same time, which will be present simultaneously in the system. Quote can be entered only of the scrips that are selected for the Quote system. The traders can enter quote for all the client IDs. However, a trader can place only one quote per scrip and the next quote can be only entered after the execution or deletion of the previous quote.

The spread of the quotes, that is the difference between the sell and buy quote, would be maximum 10 times of the tick size applicable for the scrip. For example, if tick size of scrip is one paise, then the maximum spread size would be 10 paise. If the tick size of scrip is five paise then the maximum spread size would be 50 paise. The scrips selected under this scheme will have suffix `Q' to the existing scrip IDs.

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