Request for Quote (RFQ) platform for trade execution and settlement of trades in listed Non-convertible Securities, Securitised Debt Instruments, Municipal Debt Securities and Commercial Paper

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....trades in listed Non-convertible Securities, Securitised Debt Instruments, Municipal Debt Securities and Commercial Paper 1. The framework for a dedicated debt segment was introduced by SEBI vide circular no. CIR/MRD/DP/03/2013 dated January 2013, permitting the stock exchanges to offer electronic, screen based trading providing for order matching, request for quote, negotiated trades, etc. 2. In February 2020, pursuant to approvals from SEBI, both National Stock Exchange of India Limited and BSE Limited launched RFQ platforms, as an extension of their existing trade execution and settlement platforms, to bring in transparency in "Over the Counter" deals which were negotiated bilaterally. RFQ is an electronic platform to enable sophis....

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....3. Municipal Debt Securities; 4.4. Commercial Paper; 4.5. Certificate of Deposit; 4.6. Government Securities; 4.7. State development Loans; 4.8. Treasury Bills; and 4.9. Any other instrument, as may be specified by Stock Exchanges in consultation with SEBI. 5. In February 2020, the RFQ platform was introduced as a 'participant-based' model wherein all regulated entities, listed bodies corporate, institutional investors and all India financial institutions were eligible to register, access and transact. To enhance liquidity on the RFQ platforms of the stock exchanges, SEBI has, inter alia, mandated1 registered Mutual Funds and Portfolio Management Services, to undertake a specified per....