NSE to launch new platform for negotiated trade in debt

Leading stock exchange NSE will introduce a new web-based 'negotiated trade platform' for reporting all the deals in the debt segment, from July 1.
The new facility would allow traders to report both buying and selling of securities in single-order entry, the exchange said in a circular today.
A negotiated trade entered by a trader can be confirmed by the counterparty member if all parameters are accurate, it added.
"Based on feedbacks from members and to enhance the negotiated trade platform, the exchange is introducing a new web-based platform for reporting of all trades in the debt segment," the NSE said, adding the new facility will be available from July 1.

A negotiated trade platform is a type of secondary market exchange in which the price of each security is bargained out between buyers and sellers.
In September 2013, the Securities and Exchange Board of India (SEBI) had notified norms for a separate debt platform on the stock exchanges. As per the SEBI norms, the debt segment would provide separate trading, reporting, membership, clearing and settlement rules.
Under these norms, exchanges have to merge reporting platform with the negotiated window.
According to the NSE, while reporting trade, an option is given to trading members for seamlessly sending trade transaction details for settlement on the CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform).