Reporting of OTC trades in Corporate Bonds on Trade Reporting Platforms of stock Exchanges
Summary
SEBI mandates that all OTC trades in Corporate Bonds must be reported on stock exchange platforms within 15 minutes of execution. This requirement aligns with RBI directives for regulated entities to report such trades starting April 01, 2014. Stock exchanges are directed to implement necessary systems and amend bye-laws to facilitate this reporting.
Text
all OTC trades in Corporate Bonds shall be reported only on any one of the reporting platform provided in the debt segment of stock exchanges viz NSE, BSE and MCX-SX within 15 minutes of the trade.
Stock Exchanges are directed to: take necessary steps and put in place necessary systems for implementation of this circular; make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision; bring the provisions of this circular to the notice of the member brokers of the stock exchange and also to disseminate the same on the website.
This circular shall come into effect from April 01, 2014.
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Source: SecMarx — Reporting of OTC trades in Corporate Bonds on Trade Reporting Platforms of stock Exchanges. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.