BSE ties up with Reuters for reporting of deals in ICDM

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Bombay Stock Exchange Limited (BSE) has teamed up with Reuters India Private Limited to provide its Reuters Messaging (RM) facility for accepting all reported deals done in the corporate debt market in India.

Finance Minister Mr. P. Chidambaram, in his 2006 budget speech had announced the intention of the Government to create a single, unified exchange-traded market for corporate bonds in India. Subsequently, the Securities and Exchange Board of India (SEBI) vide its circular dated December 12, 2006, entrusted the responsibility of setting up this single reporting platform for all corporate debt transactions executed in the country to the Bombay Stock Exchange Limited (BSE).

BSE has developed a reporting platform - Indian Corporate Debt Market (ICDM), for reporting of all corporate deals done in respect of debt that is listed on any stock exchange in the country, is in demat form and over Rs. 1 lakh in value as prescribed by SEBI. This system has been installed free of cost for all entities who have a ready connectivity with the BSE through its BOLT platform.

Guided by the need to provide unrestricted and open access to the reporting platform with no cost implications for the reporting entities, especially those other than its own trading members, BSE has, in addition to making the platform (ICDM) accessible to its own trading members through its wide network of Ethernet connections, leased lines and VSATs in over 420 cities and towns of India, rolled out an Internet based system for reporting the deals. The user friendly Internet Portal called ICDM is presently being used by over 70 participants  in the Debt market.

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