PMS transactions in corporate bonds must use RFQ for at least 10% of secondary market trades. PMS must execute at least 10% by value of their monthly secondary market corporate bond trades via the stock exchanges' RFQ platform in OTO or OTM modes, with compliance measured on a rolling three month basis; trades where a PMS is on both sides must use OTO, OTM trades executed with another PMS count as OTM, and PMS may accept contract notes from brokers for RFQ transactions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
PMS transactions in corporate bonds must use RFQ for at least 10% of secondary market trades.
PMS must execute at least 10% by value of their monthly secondary market corporate bond trades via the stock exchanges' RFQ platform in OTO or OTM modes, with compliance measured on a rolling three month basis; trades where a PMS is on both sides must use OTO, OTM trades executed with another PMS count as OTM, and PMS may accept contract notes from brokers for RFQ transactions.
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