Request for Quote (RFQ) platform for trade execution and settlement of trades in listed Non-convertible Securities, Securitised Debt Instruments, Municipal Debt Securities and Commercial Paper

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..... sted Non-convertible Securities, Securitised Debt Instruments, Municipal Debt Securities and Commercial Paper 1. The framework for a dedicated debt segment was introduced by SEBI vide circular no. CIR/MRD/DP/03/2013 dated January 2013 , permitting the stock exchanges to offer electronic, screen based trading providing for order matching, request for quote, negotiated trades, etc. 2. In February 2020, pursuant to approvals from SEBI, both National Stock Exchange of India Limited and BSE Limited launched RFQ platforms, as an extension of their existing trade execution and settlement platforms, to bring in transparency in Over the Counter deals which were negotiated bilaterally. RFQ is an electronic platform to enable sophisticated, .....

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..... tificate of Deposit; 4.6. Government Securities; 4.7. State development Loans; 4.8. Treasury Bills; and 4.9. Any other instrument, as may be specified by Stock Exchanges in consultation with SEBI. 5. In February 2020, the RFQ platform was introduced as a participant-based model wherein all regulated entities, listed bodies corporate, institutional investors and all India financial institutions were eligible to register, access and transact. To enhance liquidity on the RFQ platforms of the stock exchanges, SEBI has, inter alia, mandated1 registered Mutual Funds and Portfolio Management Services, to undertake a specified percentage of their total secondary market trades in Corporate Bonds through RFQ platform of stock exchang .....

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..... ons, 2021 , Regulation 29 of the SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015 and Regulation 48 of the SEBI (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations, 2008 , to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. 10. This Circular is available at www.sebi.gov.in under the link Legal Circulars . Yours faithfully, Pradeep Ramakrishnan General Manager Department of Debt and Hybrid Securities +91-22-26449246 [email protected] - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - ta .....

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