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Securitised debt trades to be reported within 15 minutes: SEBI

Foreign Venture Capital Investors and Portfolio Managers shall be reported on the trade reporting platform of either NSE, BSE or MCX-SX within fifteen minutes of the trade

January 08, 2014 1:46 IST | India Infoline News Service
In order to improve transparency, SEBI (Securities and Exchange Board of India) said all trades in securitised debt instruments or certificates will be reported on stock exchanges within 15 minutes of the transaction.

The debt segment shall also offer separate trading, clearing, settlement and reporting facilities in Securitised Debt Instruments, SEBI said in a notification on Tuesday.

For developing the Securitised Debt Instrument market and to improve transparency, it has now been decided that, all trades in Securitised Debt Instruments (listed or unlisted) by Mutual Funds, Foreign Institutional Investors/sub-accounts/Qualified Foreign Investors/ Foreign Portfolio Investors, Alternative Investment Funds, Foreign Venture Capital Investors and Portfolio Managers shall be reported on the trade reporting platform of either NSE, BSE or MCX-SX within fifteen minutes of the trade, it added.

To ensure that the data is not duplicated, the trades shall only be reported on one of the trade reporting platform mentioned above. The reporting for a trade must be done by the buyer and the seller on the same platform to ensure matching of both sides of the trades.
Further, it has also been decided that all trades in Securitised Debt Instruments (listed or unlisted) done between specified entities, namely, Mutual Funds, Foreign Institutional Investors/sub-accounts/Qualified Foreign Investors/Foreign Portfolio Investors, Alternative Investment Funds, Foreign Venture Capital Investors and Portfolio Managers and RBI regulated entities, as specified by RBI, shall necessarily be cleared and settled through the National Securities Clearing Corporation Ltd (NSCCL) or the Indian Clearing Corporation Ltd (ICCL) or MCX-SX Clearing Corporation Ltd (MCX-SX CCL).


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