Monday, January 15, 2007

Sebi to scan big deals in corporate bond market

The local corporate bond market is finally set to get a leg up, with market regulator Securities & Exchange Board of India (Sebi) making it mandatory to report all corporate bond deals, aggregating Rs. 1 Lakh or above on the Bombay Stock Exchange (BSE) from January 1, 2007. The new norms would mean that all deals in listed debt securities issued by institutions such as banks, public sector undertakings (PSUs), municipal corporations, and corporates would have to be reported within 30 minutes of closing out transactions. The new corporate bond reporting platform will be run by BSE, which has been mandated by Sebi to capture all information related to trading in corporate bonds as accurately and as close to execution as possible.


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