Mockery of Ban on Forward Trading

Mockery of Ban on Forward Trading Nishtar UNDAUNTED by the hazards of space travel, the stock market continues to move higher and higher to a destination unknown. The 1969 peak has been left far behind. The current bullish fervour is reminiscent of the boom last year which attracted Government's wrath. With forward trading officially 'banned, New Delhi is in no position to point an accusing finger at speculators. But it is surprising that it should have turned a blind eye to the illicit forward trading that is going on under the in- genious 10-day settlement system. The unrestricted freedom to trade for differences had made a mockery of the ban on forward trading.