Depositories to jointly create database for bonds: SEBI

India Infoline News Service | Mumbai |

The database can be accessed by the public or any other users without paying any kind fees or charges

Market regulator SEBI (Securities and Exchange Board of India) said that National Securities Depository (NSDL) and Central Depository Services (CDSL) will jointly create and co-host centralised database for corporate bonds and debentures by 1 January 2014.

“It has been decided to create a centralised database regarding corporate bonds which are available in demat form for public dissemination. Both the depositories -- NSDL and CDSL, jointly, will be the repository of information pertaining to the corporate bonds/debentures,” SEBI said in a circular on Tuesday.

“Depositories will have adequate systems and safeguards to maintain the integrity of the data and to prevent manipulation of the data. Depository will synchronize the database in consultation and sharing with other depository,” SEBI added.

“The depositories will obtain requisite information regarding the bonds/debentures from issuers, stock exchanges, credit rating agencies and debenture trustees,” SEBI said.

At present, the information in respect of various bonds/debentures issued by issuers is available in a fragmented manner and available at multiple sources such as websites of credit rating agencies, depositories, stock exchanges, etc. It is felt that there is a need for having a comprehensive database on corporate bonds at a single place, Sebi said.
The database can be accessed by the public or any other users without paying any kind fees or charges.

“High level expert committee on Corporate Bonds and Securitization" also known as “Dr RH Patil Committee” had recommended creation of "Centralized Database of information regarding Bonds," Sebi circular said.


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