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ASM stages

ASM stages are progressive short-term and long-term surveillance levels under Additional Surveillance Measure.

While ASM describes why a stock is watched, stages describe escalating restrictions and margins.

Exchanges publish which securities sit in short-term or long-term ASM and at which stage.

Later stages can impose tighter trading conditions and higher margins than early stages.

Brokers update margin requirements when a stock moves across ASM stages; GSM is a separate graded framework.

Part of the Market Pulse Term of the Day series — factual market vocabulary, not investment advice.