Stock market analysts and dealers are experts in deciphering excel spreadsheets and predicting market movements. Of late, they have also been learning the complexity of English grammar to bypass a recent regulatory fiat.
In March, the Securities and Exchange Board of India (Sebi) issued a simple two-page circular, directing all market intermediaries to ensure their employees do not spread unverified information or rumours through emails, SMSes, blogs or chat messengers without checking their authenticity.
The circular has changed the way stock market participants interact with each other and also the media, based on some indigenously developed solutions.
"The tacit understanding between people now is that a question should be looked upon as a statement," says an institutional dealer, who did not want to be named for obvious reasons.
"Say, one has got some unverified information and needs to pass it on. He will forward the email or SMS and append it with a question mark, or may be the words "is it true?"
The implied meaning is that "it is true", he explains. One is just trying to check the veracity of the information and not spreading it, he quips.
According to the Sebi circular, intermediaries need to ensure that "employees/temporary staff/voluntary workers, etc employed/working in the offices of market intermediaries do not encourage
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