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

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....w of Financial close out and Auction framework for corporate 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 settleme....

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....financial close-out. The financial close out shall take place at highest 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 plac....