Review of Financial close out and Auction framework for corporate bonds traded on the Stock exchanges platform

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....porate bonds traded on the Stock exchanges platform. 1. SEBI vide circulars no. CIR/MRD/DP/03/2013 January 24, 2013, and no CIR/MRD/DP/ 27 /2013 dated September 12, 2013 issued guidelines for providing dedicated debt segment in the stock exchange for trading, clearing and settlement of debt securities including trading, clearing and settlement of corporate bonds. 2. Report of the Working Group o....

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....ghest price on Trade date (which becomes the trade price) with a 1% mark-up on trade price. 3.2. Further, Exchanges/Clearing Corporation shall introduce an uniform auction mechanism to deal with settlement shortages by March 31, 2017. 4. Stock Exchanges are directed to: 4.1. take necessary steps and put in place necessary systems for implementation of this circular immediately; 4.2. make ne....