With a view to develop the Securitised Debt Instruments(SDIs) market and to improve transparency in the dealings of SDIs, SEBI circular dated January 07, 2014, has directed that all trades in SDIs (listed or unlisted) by Mutual Funds, Foreign Institutional Investors/sub-accounts/Qualified Foreign Investors/ Foreign Portfolio Investors, Alternative Investment Funds, Foreign Venture Capital Investors and Portfolio Managers shall be reported on the trade reporting platform of either NSE, BSE or MCX-SX, within fifteen minutes of the trade. All trades in SDIs (listed or unlisted) done between above specified entities shall necessarily be cleared and settled through the National Securities Clearing Corporation Limited (NSCCL) or the Indian Clearing Corporation Limited (ICCL) or MCX-SX Clearing Corporation Limited (MCX-SX CCL). The circular shall come into effect from April 01, 2014.

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