India Morning Report August 17, 2012: The Reform mandate

MF expenses, Promoter holding IPOs what more do we need!

SEBI’ spre eminent third sense has been working with eIPOs and SROs for direct investments in the Indian Capital Markets as well as the rewards for going beyongd the mega cities in MF expenses and exit loads written back. Minimum Applications of 10-15k would be a logistical revival but still no one has really gone into a statistical basis for that minimum app and assuring all investors allocation yet this step is more advanced than the best capital market legislation globally. hat waould it take for this new frontier of GS and JPM to beat Schenzen and Singapore in Derivatives market volumes esp in rates, currencies or both. We definitely have a communication advantage. It can be said right now becaause with liquidity the inflows have gravitated to our markets yet much more needs to be done to set up clear infrastructure for trading and settlement not just for retail education and enterprise but also for enabling a professional Treasury in every PD licensee and not just a single trading room in the Mumbai HO

Banks will get the volumes in Fied Income markets, not retail investors, even if it is from QFIs abroad and in new Structured and CDS products. 

Markets are going to stay green after yesterday’s climb down but it is unlikely to be a ratificationof SEBI’s reforms which still count to too little and in the evry least just clear decks for a new standoff with promoters holding 90% interest in their company instead of the mandated 75% or even around the 10% mark for banks and financial services players

The flat markets have hit futures volumes but Options interest said to be coming back is even more fickle. 

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