SEBI Mandates Stock Brokers to Undertake a Minimum 10% of Secondary Market Trades via ‘Request for Quote’ Platform

 ​    Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/83; Dated: 02.06.2023 … Continue reading “SEBI Mandates Stock Brokers to Undertake a Minimum 10% of Secondary Market Trades via ‘Request for Quote’ Platform”
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Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/83; Dated: 02.06.2023

SEBI has issued norms for transactions in corporate bonds through the ‘Request for Quote’ (RFQ) platform by stock brokers. This is done in order to increase liquidity on the RFQ platform of stock exchanges and to enhance the transparency and disclosure pertaining to trading in the secondary market in corporate bonds.

As per the norms, stock brokers must undertake at least 10% of their total secondary market trades by value through RFQ platforms. This requirement will be increased to at least 25% of their secondary market trades by value by April 2024. The RFQ platform is a direct participation model where all participants trade in their own accounts.

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