Sebi to focus on improving quality of intermediation

Sebi will focus on improving quality of intermediation and issues (offerings) in 2004-05 even as it asked the National Stock Exchange to tone up its systems to avoid disruption in the trading activity. ‘‘We want to institutionalise the public and private sector regulatory framework and transform Indian capital market to become benchmark for the world,’’ Sebi chairman G.N. Bajpai said here today.

The efficiency and cost competitiveness in operations would help attract more overseas investors to Indian markets, Bajpai said. Sebi has already set up a taskforce, headed by UTI bank CMD P.J. Nayak, to carry out a ‘‘health check’’ on securities market infrastructure and recommend ways to upgrade facilities.

Dwelling on the risks associated with trading, Bajpai said the operational risks emerged from the settlement system. The real time monitoring of broker positions and T+2 settlement mode have reduced them (risks) considerably.