NSE to launch RFQ platform for debt securities on Feb 4; BSE on Feb 3

The National Stock Exchange (NSE) on Friday said it has received markets regulator Sebi's approval to launch a new electronic platform for debt securities which is aimed at improving liquidity in the segment.

In a statement, the exchange said the platform -- NSE RFQ (request for quote) -- will be launched by Sebi Chairman Ajay Tyagi on Tuesday, February 4.

Earlier, rival bourse BSE has received the markets regulator's approval to launch RFQ in debt securities from February 3.

As a part of continuous market development initiatives to improve liquidity in debt market, the NSE said it is introducing RFQ platform, an electronic platform where market participants can negotiate their deals in any of the eligible securities.

The list of eligible securities include corporate bonds, securitised debt instruments, municipal debt securities, government securities, state development loans, treasury bills, commercial papers and certificates of deposit or any other security as specified by exchange from time to time.

The RFQ platform will be hosted on the existing NSE Corporate Bond Reporting and Integrated Learning and Settlement (CBRICS) environment.

In a separate announcement, the NSE said it has been recognised by Nasdaq for its achievement on the derivatives segment.

Nasdaq, one of major stock exchange in the US has acknowledged and recognised NSE's important milestone in the Indian capital markets, as being the world's largest derivatives exchange, on its famous Nasdaq signboard in Times Square New York, the statement noted.