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May 30, 2013 11:11 AM IST | Source: PTI

BSE awaits Sebi nod to start debt trading platform

Sebi approval is awaited for BSE to launch a separate debt trading segment.

BSE is awaiting the approval of market regulator Sebi to launch a separate debt trading segment, according to a senior official.

"We have applied to the Securities and Exchange Board of India (Sebi). Once the approval is obtained, we will launch the debt segment," BSE managing director and CEO Ashishkumar  Chauhan said on Wednesday.

In this segment, banks, insurance companies, pension funds, provident funds and retail investors can become members  of the bourse and trade in this market. There will be separate order books for retail and institutional investors. Earlier this month, the National Stock Exchange had  launched a separate debt trading platform.

The concept of dedicated debt trading platform was mooted by Sebi as part of efforts to boost the country's corporate debt market. Speaking on the sidelines of an event organised by industry body Assocham, Chauhan said that BSE already has a very robust debt segment for institutions as well as retailers.

"We have more than 65 percent market share in retail debt," he added. He also noted that last year BSE platform was utilised for most of the tax-free corporate bonds issues.

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