The market regulator Securities and Exchange Board of India (Sebi) on Friday, 16 October 2009, said trades in corporate bonds should be cleared and settled through the National Securities Clearing Corporation (NSCCL) or the Indian Clearing Corporation (ICCL), effective 1 December 2009.
The provisions of this circular shall be applicable to all corporate bonds traded Over The Counter (OTC) or on the debt segment of stock exchanges on or after 1 December 2009, the Sebi said in a statement.
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