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SEBI to set up exchange for corporate bonds

The exchange is recommended to be developed by ICAP India

August 29, 2012 11:56 IST | India Infoline News Service
The Securities and Exchange Board of India (SEBI) is planning to set up a separate exchange for corporate bonds and fixed-income derivatives. The exchange will exclusively cater to the large institutional investors, according to media reports.

The exchange is recommended to be developed by ICAP India, a subsidiary of London-based ICAP plc. Currently, SEBI is considering the application made by ICAP India for a separate exchange, the reports added.

ICAP plc said that application has been made to SEBI and plans are still in the development stage. No other details were provided by ICAP. ICAP plc is a market leader in the global money broking business with a market share of 26% and daily transaction volumes exceeding US$ 1 trillion of which 50% is executed electronically.

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