NSE launches Request for Quote Platform in Debt Securities

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National Stock Exchange of India Ltd (NSE), India’s leading stock exchange today announced the launch of Request for Quote Platform for execution and settlement of trades (NSE RFQ Platform) which will allow market participants to transact in debt securities. Shri Ajay Tyagi, Chairman, SEBI launched the NSE RFQ Platform at an event held in Mumbai today.

The NSE RFQ Platform can be accessed by eligible participants namely all regulated entities, listed corporates, institutional investors etc. The NSE RFQ Platform will provide market participants range of options to seek a quote and to respond to a quote while keeping an audit trail of all the interactions i.e. quoted yield, mutually agreed price, deal terms etc. This will bring pre-trade transparency in the transactions of eligible debt securities. NSE will manage the RFQ Platform and will specify various parameters for facilitating effective interactions amongst the participants. The eligible transactions will be reported to the CBRICS reporting platform and will be settled by the NSE Clearing Ltd (NCL). 

Speaking on the occasion, Shri Ajay Tyagi, Chairman, SEBI, said “The launch of ‘NSE RFQ Platform’ is an important milestone for the debt market. The single platform for multiple debt securities including corporate bonds & government securities etc. could go a long way in developing the bond market in India.”

Shri Vikram Limaye, MD & CEO, NSE said, “The NSE RFQ Platform will facilitate further electronification of the debt markets in India. The platform will cover the entire process of seeking a quote for security, interacting with various participants, doing multiple rounds of negotiation and recording all these chains of events in an electronic form.  The NSE RFQ Platform is expected to increase the market activity in the debt markets along with brining in required pre-trade transparency”.

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