Leading stock exchange NSE today launched 'Tri-Party Repo Market' platform in its debt segment to facilitate repurchase (repo) of corporate debt securities.
The platform is a kind of repo contract where a third entity, apart from the borrower and lender, called tri-party agent acts as an intermediary to facilitate services like collateral selection, payment and settlement, custody and management during the life of the transaction.
At the launch of the platform, NSE MD & CEO Vikram Limaye said: "The corporate bond market in India needs improved liquidity because a holder of a corporate bond typically ends up holding the security to maturity."
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