Leading stock exchange BSE has decided to launch a new debt platform to provide ease in reporting and settlement of corporate bonds, government securities, commercial paper and certificate of deposit.
The new debt reporting and settlement platform for Indian corporate debt market (ICDM) would facilitate online settlement functionalities such as deal confirmation, addition of client and other related details.
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While the launch date of the platform would be communicated later by BSE, the exchange said that market participants can test the new facility from June 28 to July 7.
“This is to inform BSE ICDM/E-settle participants and members that with a view to provide ease in reporting and settlement of corporate bonds, government securities, commercial paper and certificate of deposit, BSE will be launching a new debt reporting and settlement platform (ICDM),” BSE said in a circular.
The additional features in the new platform include single system for reporting and settlement, portfolio creation facility and single order entry screen for reporting debt securities.
Besides, it would also provide for reporting and settlement from same order entry window, rating tracker, trade history and daily market analytical reports.
“The modalities of using the system and reporting deals in various debt instruments would remain the same as ICDM,” BSE said.