BSE launches Indian Capital Debt Market

Mumbai, Jan 3 (UNI) On the first day of trading in 2007, the Bombay Stock Exchange (BSE) today launched Indian Corporate Debt Market (ICDM) -- a single exchange-traded market for corporate bonds in India.

The Securities and Exchange Board of India (SEBI) had, through a circular dated December 12 last year, entrusted the BSE the task of rolling out a unified reporting platform for all corporate bonds traded in India, a BSE press release said.

Following this, the BSE has provided unrestricted and open access to the reporting platform with no cost implications, which is accessible to BSE trading members through the wide network of Ethernet connections, leased lines and VSATs in over 420 cities and towns of India, a BSE release here today said.

For other reporting entities like primary dealers, financial institutions, mutual funds, and banks, the BSE has rolled out an Internet-based system for reporting the deals.

The BSE has also tied up with two leading data dissemination agencies for reporting of trades through their systems and networks.

The data relating to the trades reported has been disseminated in the public domain through BSE's website www.bseindia.com under the head Debt.Today. The platform has seen the reporting of 31 deals worth an aggregate value of Rs 201 crores.

The BSE has undertaken a comprehensive contact program with the market participants to achieve higher levels of reporting and compliance in order to bring in increased transparency in the debt market in India, the release added.

UNI