Friday, February 15, 2013

GUIDELINES FOR PROVIDING DEDICATED DEBT SEGMENT ON STOCK EXCHANGES

The Securities and Exchange Board of India (SEBI) has issued guidelines for debt segments on all Stock exchanges.

Listing:

  • This segment shall list all the securities and debt instruments.


Trading :

  • The debt segment shall offer electronic, screen based trading providing for order matching, request for quote, negotiated
  • The debt segment shall provide separate platforms for the markets described below
  • Retail market - which shall be a market for listing of and trading in publicly- issued debt instruments and where participation by registered trading members can be on their own account or for execution of orders placed their clients.
  • Institutional market - which shall be a market for non-publicly-issued debt instruments with a market lot size of minimum Rs 1 crore.
Trading Rules:


The trading hours shall be from 9:00 hours to 17:00 hours to be in alignment with trading hours of government securities as issued by the Reserve Bank of India (RBI).

Clearing and Settlement:

All trades shall be cleared and settled through a clearing corporation.

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