The National Stock Exchange has added a voice-based negotiation facility with modern tools in its recently launched ‘Request for Quote’ platform for debt securities.
The move will bring auditability and transparency to bond trading, it said.
The NSE RFQ platform supports a unified market place to trade corporate bonds, securitised debt, municipal bonds, CP, CD, G-Sec, SDL, and T-bills. This covers practically all major fixed income instruments available in India. An ISIN level market watch is provided to the participants to view the summary of market activity.
If a bond has complex terms that require some time to confirm the price, then participants can choose to close the deal on yield and later confirm the price.
The NSE Data and Analytics will be integrating its fixed income analytics tool on to the RFQ platform, enhancing its usability and providing much needed research and analytics support to the bond market participants.
Vikram Limaye, Managing Director and CEO, NSE, said that the RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and widen participation. “We will continue to add features and facilitations to make this platform the ‘go-to’ marketplace for participants and the best in class platform globally,” he said.