NSE launches trade repository for corporate debt

The repository will provide consolidated information on over the counter deals in corporate bonds across exchanges

Leading stock exchange NSE today said it has launched a trade repository for Indian corporate debt, a move that will provide easy access to information on over the counter deals.

The repository would provide consolidated information on over the counter (OTC) deals in corporate bonds across exchanges.

"Currently, market participants report their OTC deals in corporate bonds on the reporting platform of any one of the stock exchanges," NSE said in a statement.

"With the implementation of the Indian Trade Repository by NSE all deals - across exchanges - will be visible as aggregated," it added.

NSE's corporate bond reporting platform, CBRICS, also offers facility for clearing and settlement of the deals reported on the platform through National Securities Clearing Corporation Ltd (NSCCL).

About 80% of the OTC trades in corporate bonds are reported and settled on NSE platform, the exchange said.

"This (repository) initiative is expected to help in increasing the transparency and liquidity in the Indian OTC corporate bond market," NSE's strategic business head (Fixed Income & Currency) Huzan Mistry said.

The facility was launched on July 1.