who introduced circuit circuit breaker in India? SEBI or exchange?

[mmm]

I searched a lot on internet but couldn't find whether it was first SEBI or the exchange to enforce circuit and circuit breaker in Indian stock market.
Can someone please tell me?
Also when it was introduced?

 

[Smart_trade]

https://www.nseindia.com/products/content/equities/equities/circuit_breakers.htm

Smart_trade

 

[mmm]

@Smart_trade thanks for the reply. I visited the link before but wasn't sure that it was sebi who implemented it first.

I am not able to understand one line (bold in below quoted para) of that NSE page. Please help me understand that.

"The index-based market-wide circuit breaker system applies at 3 stages of the index movement, either way viz. at 10%, 15% and 20%. These circuit breakers when triggered bring about a coordinated trading halt in all equity and equity derivative markets nationwide. The market-wide circuit breakers are triggered by movement of either the BSE Sensex or the Nifty 50, whichever is breached earlier."

Does this mean that if NSE or BSE index breaches the circuit, all trading in stock market will halt?
No buy-sell of any equity or futures-options will take place for that time frame?

 

[ocil]

Yes, whenever any circuit hit the NSE /BSE. All trading halt. its depend on the % of Circuit. It halts for some time or for a full day.

@Smart_trade thanks for the reply. I visited the link before but wasn't sure that it was sebi who implemented it first.

I am not able to understand one line (bold in below quoted para) of that NSE page. Please help me understand that.

"The index-based market-wide circuit breaker system applies at 3 stages of the index movement, either way viz. at 10%, 15% and 20%. These circuit breakers when triggered bring about a coordinated trading halt in all equity and equity derivative markets nationwide. The market-wide circuit breakers are triggered by movement of either the BSE Sensex or the Nifty 50, whichever is breached earlier."

Does this mean that if NSE or BSE index breaches the circuit, all trading in stock market will halt?
No buy-sell of any equity or futures-options will take place for that time frame?