SEBI revises the existing Electronic Book Provider (EBP) framework
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- By Chetan Kulasri
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- Last Updated on 12 October, 2022
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Circular: SEBI/HO/DDHS/ DDHS_Div1/P/CIR/2022/00139, dated: 10.10.2022
The SEBI received representations from market participants requesting for a review of the EBP platform. SEBI observed that it was essential to modify the book-building process to ensure allocations based on the ‘best bid’ rather than the bidder with the best technology for placing the fastest bid. It was observed that in order to address the concern of ‘fastest finger first’, it is essential to modify the book-building process to ensure allocations based on the ‘best bid’ rather than the bidder with the best technology for placing the fastest bid. The circular is effective from 01.01.2023.
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