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TMI BlogArbitration Mechanism through Stock Exchanges - Introduction of Automatic Process and Common Pool of arbitratorsX X X X Extracts X X X X X X X X Extracts X X X X ..... l of arbitrators. SEBI has received inputs from investors regarding functioning of the arbitration mechanism at the Stock Exchanges. In light of which, you are advised to carry out the following changes in the arbitration mechanism. 1. List of Arbitrators on the panel of all stock exchanges having nation-wide trading terminals shall be pooled and will be called a 'Common Pool'. This list ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent or member) nor the concerned Stock Exchanges will be directly involved. 3. The 'Automatic Process' will entail a randomized, computer generated selection of Arbitrator, from the list of Arbitrators in the 'Common Pool'. The selection process shall be in chronological order of the receipt of arbitration reference i.e. only after selecting an arbitrator for the former arbitratio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssigned to any Arbitrator the Arbitrator will have to upfront decline the arbitration reference. After the said arbitrator declines, the 'automatic process' will pick the name of another Arbitrator. This will continue till the time there is no conflict of interest, by the selected arbitrator. In this regard, the timelines mentioned at clause 5.3 in CIR/MRD/DSA/24/2010 dated August 11, 2010 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The circular is being issued in exercise of powers conferred upon SEBI under Section 11(1) of the Securities and Exchange Board of India Act, 1992. 12. This circular is being issued in partial modification of SEBI Circular No. CIR/MRD/DSA/24/2010 dated August 11, 2010 and will come into effect from 1st April 2013. 13. The circular is available on SEBI website at www.sebi.gov.in under the categor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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