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.
Basis the SEBI approval in the year 2020, BSE launched Request for Quote (RFQ) platform execution and settlement of trades vide notice 20200127-41 dated January 27, 2020
Further, SEBI has issued circular ref. no: SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/142 dated October 19, 2022 regarding Request for Quote (RFQ) platform and has decided to allow stock brokers registered under the debt segment of the Stock Exchange(s) to place/seek bids on behalf of client(s), in addition to the existing option of placing bids in a proprietary capacity.
This circular shall come into force with effect from January 1, 2023.
A copy of the said Circular is attached herewith and available on the SEBI website www.sebi.gov.in.
Members are requested to take note of the contents of the circular.
For and on behalf of BSE Ltd.
Ketan Jantre Vijay Krishnamurthy
Sr. General Manager Additional General Manager
Trading Operation Fixed Income
Date: October 31, 2022 |