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India INX gets Sebi nod for listing framework of debt securities

India INX had approached the regulator in October for its approval on listing of debt securities

Press Trust of India  |  Mumbai 

India INX gets Sebi nod for listing framework of debt securities

BSE's International Exchange (INX) on Friday said it has received approval from the capital market regulator on the framework for listing of debt securities.

The move will enable Indian and foreign issuers to issue masala bonds, Eurobonds and foreign currency bonds from INX at International Financial Service Centre (IFSC) at (GIFT) for the first time, INX said in a statement.

INX had approached the regulator in October for its approval on listing of debt securities.

"The exchange will also be the first India-based exchange to offer clearing and settlement of debt securities through International Central Securities Depositories," INX said in a statement.

"Earlier this year, it had set up its clearing and settlement capabilities for international securities through clearstream and is already in talks with Euroclear," it added.

With the approval of debt listing, INX expects a significant increase in its daily trading volumes. Currently, the exchange is clocking an average daily volume of $100 million in trading.

At present, BSE's INX and the NSE IFSC are the two exchanges at the IFSC. While INX went live in January, NSE IFSC started trading in June. These bourses offer trading facilities for 22 hours.

INX currently offers trading in equity derivatives, currency derivatives, index derivatives and commodity derivatives.

First Published: Fri, December 08 2017. 22:38 IST
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