SEBI and BSE launch Innovation Sandbox web portal
Mumbai : 29 January 2021: To create an ecosystem which promotes innovation in the securities market, SEBI has promoted the concept of Innovation Sandbox where FinTech firms may test their applications effectively before introduction in live environment vide circular SEBI/MRD/CSC/CIR/P/2019/64.
BSE, with a view to operationalizing the above mentioned endeavour of SEBI, has setup an “Innovation Sandbox” web portal (https://innovation-sandbox.in) where FinTech firms and individuals may use the environment for offline testing of their applications in a test environment. It is a workflow based platform, where applicants will be able to access APIs, test data of Stock Exchanges, Depositories and Qualified Registrar and Share Transfer Agents (QRTAs) etc.
Participants / applicants interested in using this facility may submit their application on this web portal with details of their proposal.. After the due approval by the Innovation Sandbox Committee, the applicant can get the access to test its product / solution.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
Yatin Padia / Rahul Vyas / Shruti Nitesh
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