Pending cap on India block-trading raises fears

Buy-side traders and brokers fear that a cap on block trades set to be imposed on India’s exchanges within weeks could drive up execution costs and ultimately damage the market. In mid-December, the Securities and Exchange Board of India (Sebi) stated that outside of the 30-minute morning window allowed for block-crossing once the market opens, all orders for stocks, exchange-traded funds and futures should be capped at Rs10 crore ($1.8 million). It is expected to be introduced …