BSE ties up with Reuters for reporting of deals in ICDM

RELATED NEWS Sebi bars 6 brokers from trading Nissan Copper Buy media stocks on declines BSE inducts Corporation Bank as clearing bank Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty?

Additionally, to make the framework inclusive, BSE has tied up with Reuters for its Reuters Messaging System. The Reuters Messaging system will accept the reported trades from its subscribers and forward the same to the BSE's Indian Corporate Debt Market platform (ICDM), where the trades would be aggregated and disseminated through ICDM reporting platform as well as the following link on its website < http://www.bseindia.com/ICDM/Tradereport.asp >  

Mr. Rajnikant Patel, Managing Director & CEO of Bombay Stock Exchange said, " I am positive that this unique path breaking move will lead to a much more vibrabnt and transparent debt market in India.  BSE remains committed to this developmental move by SEBI and will try to ensure high reporting levels in the Corporate Bond Market."

Samir Shah, Managing Director South Asia, Reuters India Private Ltd: said' "'One of Reuters key focus in India would be to assist development of the corporate debt market. The corporate debt market is a key infrastructure to sustain the growth demands of the economy. Reuters has very good penetration amongst fixed income dealers and has very efficient tools that help collaboration and reporting between market participants. We are excited about being able to offer our Reuters Messaging capability to the market to facilitate best-in-class collaboration between market participants and BSE towards making the corporate debt market more efficient.'

Reuters Messaging offers powerful instant messaging and chat rooms to the financial markets. With streamlined access to the financial community, Reuters Messaging helps build superior teamwork across organizations and improve communication with clients. Reuters Messaging provides BSE access to over 200 million reachable contacts worldwide.

This service which offers access to the BSE's Indian Corporate Debt Market (ICDM) will be available to Reuters users free of cost and will help BSE reach out to a large number of participants including its non members.

It may be noted that as per the SEBI directives, all intermediaries / contracting parties are obliged to report all transactions executed by them in corporate debt, from January 1, 2007, within 30 minutes of closing the deal.

Sourced From: BSE India Ltd