Mode of settlement for trades executed on the Request for Quote (RFQ) platform

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....platform 1. SEBI vide circular no. SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/142 dated October 19, 2022 on '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' has permitted stock brokers registered under the debt segment of the Stock Exchange(s) to place/ seek bid....

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....aced on an online Bond Platform shall be mandatorily routed through the RFQ platform of the recognised Stock Exchange(s) and settled through the respective Clearing Corporations. 4. As a matter of practice, presently, Stock Exchanges are using Real-Time Gross Settlement (RTGS) channel as a mode of settlement for trades executed on the RFQ platform with respect to listed corporate bonds, commercia....

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....ecessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above directions in coordination with one another to achieve uniformity in approach and communicate to SEBI. 7. This circular shall come into force with immediate effect. 8. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India A....