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BSE Limited Launches Corporate Debt Market Reporting Platform.

Finance Minister Mr. P. Chidambaram, in his 2006 budget speech had announced the intention of the Government to create a single, unified exchange-traded market for corporate bonds in India. Subsequently, the Securities and Exchange Board of India (SEBI) vide its circular dated December 12, 2006, entrusted the responsibility of setting up a reporting platform for all corporate debt transactions executed in the country to the BSE Limited.

BSE developed a reporting platform - Indian Corporate Debt Market (ICDM), for reporting of all corporate deals done in respect of debt that is listed on any Indian stock exchange , are in demat form and are over Rs. 1 lakh in face value as prescribed by SEBI. The platform, currently implemented through Internet, called ICDM, is being used by over 120 participants in the Debt Market.

On observing wide participation and depth in the Corporate Bond market, SEBI vide its circular dated April 13, 2007, granted permission to BSE to launch a trading platform. To, begin with the platform shall have essential features of an Over the Counter (OTC) Market. BSE shall gradually migrate into an anonymous order matching system.

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