Sebi Plans To Go Hi-Tech On Surveillance

Technology changes the way you live, they say. The Securities and Exchange Board of India, the capital market watchdog, will enhance its capability to sniff strange market movements. It has decided to go hi-tech.

The investigation, surveillance and enforcement department of Sebi will soon witness a change in the way they function. According to Sebi sources, video-conferencing facilities are being set up between Sebi's head office in Nariman Point, Mumbai and major stock exchanges like National Stock Exchange, Bombay Stock Exchange, Delhi Stock Exchange, Calcutta Stock Exchange and one stock exchange from the south.

"We have not decided whether it will be Bangalore or Madras yet," a top level Sebi source said. "We have already shortlisted vendors for the equipment to be installed for the purpose.

We are planning to link up our regional offices with the local stock exchange. There will be an internal link within Sebi offices too. We have also upgraded our computer facilities in Mumbai office," the source added.

Sebi has provided laptop computers to its officers at the division chief level. A meeting of the inter-exchange co-ordination group comprising these exchanges has been called by L K Singhvi, senior executive director, incharge of the investigations, enforcement and surveillance department on April 21.

"The meeting is expected to work out modalities of the new technological development. In future, we can merely link up on the video conference and co-ordinate surveillance related matters," the source added.