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