Indian Capital Debt Market
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Home / India News / 2007 / January / January 2, 2007
BSE launches Indian Capital Debt Market (ICDM)

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BSE launches Indian Capital Debt Market (ICDM)

The Hon'ble Union Finance Minister, while presenting the Union Budget for 2006-2007, had envisioned the creation of a single, unified exchange-traded market for corporate bonds in India. Pursuant to the recommendations of its internal committee, SEBI issued a circular on December 12, 2006, entrusting to the Bombay Stock Exchange the task of rolling out a Unified Reporting platform for all corporate bonds traded in India.

Bombay Stock Exchange Limited has today, the first trading day of the year 2007, successfully launched a single exchange-traded market for corporate bonds in India christened the ICDM or Indian Corporate Debt Market.

BSE provides unrestricted and open access to the reporting platform with no cost implications for the reporting entities. The platform is accessible to BSE trading members through the wide network of Ethernet connections, leased lines and VSATs in over 420 cities and towns of India. In order to provide unrestricted and open access to the reporting platform with zero cost for the other reporting entities such as Primary Dealers, Financial Institutions, Mutual Funds, Banks, etc., BSE has rolled out an Internet based system for reporting the deals. To make the framework inclusive, BSE has also tied up with two leading data dissemination agencies of international repute having a wide footprint in India covering most of the primary dealers and other participants in the debt market for reporting of trades through their systems / networks, the details of which would be announced shortly. The data relating to the trades reported has been disseminated in the public domain through BSE's website www.bseindia.com under the head 'Debt'. Today, the platform has seen the reporting of 31 deals worth an aggregate value of Rs. 201 crores.

BSE has undertaken a comprehensive contact program with the market participants to achieve higher levels of reporting and compliance in order to bring in increased transparency in the debt market in India.

About Bombay Stock Exchange:

Bombay Stock Exchange Limited is the oldest stock exchange in Asia with a rich heritage. Popularly known as "BSE", it was established as "The Native Share & Stock Brokers' Association" in 1875. It is the first stock exchange in the country to obtain permanent recognition in 1956 from the Government of India under the Securities Contracts (Regulation) Act, 1956. The Exchange's pivotal and pre-eminent role in the development of the Indian capital market is widely recognized and its index, SENSEX, is tracked worldwide. For more information, please visit www.bseindia.com

Kalyan S. Bose
Head - Corporate Affairs

Source: Bombay Stock Exchange

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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Also see International News / Press Releases on January 2, 2007

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