Interoperability among clearing corporations for share sale via offer for sale to start from July 13

By: |
Published: July 2, 2020 5:12 PM

The Securities and Exchange Board of India (Sebi) in 2018 came out with a framework for interoperability among clearing corporations with an aim to reduce trading costs.

In addition, the exchange has also come out with framework for participation in the OFS segment on the BSE.

The BSE on Thursday said interoperability among clearing corporations for sale of shares through the offer-for-sale (OFS) mechanism will be implemented from July 13. The interoperability permits trading members to clear trades through a firm of their choice instead of going through the central clearing counterparty owned by the bourse on which the trade was executed.

The interoperability among clearing corporations for OFS will be implemented with effect from July 13, 2020, the BSE said in a circular. In addition, the exchange has also come out with framework for participation in the OFS segment on the BSE. The guidelines also contain the requirements to be complied by seller — promoter entity or non-promoter shareholder — intending to select the BSE as designated exchange.

The Securities and Exchange Board of India (Sebi) in 2018 came out with a framework for interoperability among clearing corporations with an aim to reduce trading costs.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Loan default: IndusInd Bank acquires 7.82% stake in Eveready by invoking pledged shares
2Blackstone, Brookfield among firms eyeing DB, Logix, other Indian malls to buy stakes
3Retain ‘add’ on Embassy Office Parks REIT with fair value of Rs 400/share