Monday June 10 2013
News Source: Global Exchanges
Focus: Fixed Income
Type: General
Country: India
Link: http://www.mcx-sx.com/Media/PressRelease/MCX_SX_launches_dedicated_Debt_Segment.pdf
MCX Stock Exchange (MCX-SX) has launched its dedicated debt market segment.
The MCX-SX debt market segment envisions to bring the debt segment participants together by offering them transparency and liquidity on a single platform for all debt securities and all mechanisms of trading and settlement that the industry has been using globally in the fixed income market. It combines the best of both the OTC and the exchange traded market and will offer innovations and new features, which will be the key differentiator. It would enable executing orders through an Anonymous Order Matching Trading Platform, where the order entry panel would facilitate to quote either in yield or in price terms. It is an interface that would enable users to see pricing fluctuations and market actions.
In line with SEBI guidelines, MCX Stock Exchange will offer Retail and Institutional Market for the Debt segment, including Request for Quote (RFQ) and Negotiated Platform.
The Retail Market will offer lot sizes of 1 bond (tick size 0.01), Rs. 1 crore (tick size 0.0001) and Rs. 5 crore (tick size 0.0001). The market timings would be from 9 am to 5 pm. Trades done in retail market will be settled on a DVP III (net Basis) on T+2 day and there would be a settlement guarantee.
Click on the above link for more details