Update on the NSE RFQ Platform for Debt Securities
BackUpdate on the NSE RFQ Platform for Debt Securities
Date: 28-Sep-2020
Source: Various Publications
NSE launches new version of RFQ platform for debt securities
Economic Times
NSE launches new version of RFQ platform for debt securities
28 September 2020
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation, “said Vikram Limaye, MD and CEO of NSE.
According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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.
Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system.
The onboarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
NSE launches new version of RFQ platform to cater to bond markets
Business Standard
NSE launches new version of RFQ platform to cater to bond markets
To cater to requirements of bond markets, leading stock exchange NSE on Monday launched the new version of Request for Quote (RFQ) platform
28 September 2020
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation, “said Vikram Limaye, MD and CEO of NSE.
According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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.
Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system.
The onboarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
NSE’s new debt platform adds voice-based negotiation facility
Hindu Business Line
NSE’s new debt platform adds voice-based negotiation facility
28 September 2020
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.
NSE launches new version of RFQ platform for debt securities
CNBC TV18
NSE launches new version of RFQ platform for debt securities
28 September 2020
To cater to requirements of bond markets, leading stock exchange NSE on Monday launched the new version of Request for Quote (RFQ) platform. The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE). To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation, "said Vikram Limaye, MD and CEO of NSE. According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated. The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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. Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system. The onboarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
NSE launches new version of RFQ platform to cater to bond markets
Bloomberg Quint
NSE launches new version of RFQ platform to cater to bond markets
28 September 2020
To cater to requirements of bond markets, leading stock exchange NSE on Monday launched the new version of Request for Quote (RFQ) platform
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation," said Vikram Limaye, MD and CEO of NSE.
According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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.
Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system.
The onboarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
NSE launches new version of RFQ platform to cater to bond markets
Deccan Herald
NSE launches new version of RFQ platform to cater to bond markets
28 September 2020
To cater to requirements of bond markets, leading stock exchange NSE on Monday launched the new version of Request for Quote (RFQ) platform
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation," said Vikram Limaye, MD and CEO of NSE.
According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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.
Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system.
The onboarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
NSE launches new version of RFQ platform for debt securities
Outlook
NSE launches new version of RFQ platform for debt securities
28 September 2020
To cater to requirements of bond markets, leading stock exchange NSE on Monday launched the new version of Request for Quote (RFQ) platform.
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
“Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation," said Vikram Limaye, MD and CEO of NSE.
According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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.
Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system.
The on boarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
NSE launches new version of RFQ platform for debt securities
Devdiscourse
NSE launches new version of RFQ platform for debt securities
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously. Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
28 September 2020
To cater to requirements of bond markets, leading stock exchange NSE on Monday launched the new version of Request for Quote (RFQ) platform.
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
“Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation," said Vikram Limaye, MD and CEO of NSE.
According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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.
Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system.
The onboarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
Update on the NSE RFQ Platform for Debt Securities
Business News This Week
Update on the NSE RFQ Platform for Debt Securities
29 September 2020
National Stock Exchange of India Ltd (NSE), India’s leading stock exchange had launched the Request for Quote (RFQ) platform for debt securities on February 4, 2020. NSE is happy to announce the release of a new version of the RFQ platform with several new features. RFQ is a specialized platform offered by NSE to cater to the unique needs of the Indian bond market. The platform supplants voice-based negotiations with state-of-the-art electronic negotiation tools to bring auditability and transparency to bond trading.
Corporate funding over recent years is gradually shifting towards capital markets. Given the increasing reliance on the bond markets, it is imperative that information about bonds, term sheets, price information, market quotes, etc. are made available to all market players on an integrated platform to significantly reduce information asymmetry. The NSE RFQ platform supports all these features in a unified marketplace to trade corporate bonds, securitized 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 in a given ISIN. It also provides market depth in the security along with information of best bid and best ask for the quotes initiated. All these features are packaged into a user-friendly and customizable dashboard for a seamless navigation experience.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously / with identity, sending quotes to select participants / entire market, choosing deal parameters, quantity conditions, etc. 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. Alternatively, participants can choose to close deals on yield and price in one go. These features have been especially offered to replicate the flexibility of the voice market. From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system. The onboarding process has been made simple for existing CBRICS participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
NSE Data & Analytics Limited, a subsidiary of NSE, is 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. This tool offers rich fixed income security and portfolio analytics along with providing deep insights into fixed income markets through a highly interactive and user-friendly web-based interface.
Mr. Vikram Limaye, MD & CEO, NSE said, “Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation. We strongly believe that we need to attract a wider section of participants to the bond markets to make the market robust and vibrant. We believe the RFQ platform will help us achieve this objective. We will continue to add features and facilitation to make this platform the ‘go-to’ marketplace for participants and the best in class platform globally.”
NSE’s new debt platform adds voice-based negotiation facility
WN.com
NSE’s new debt platform adds voice-based negotiation facility
28 September 2020
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.
National Stock Exchange: NSE launches a new version of the RFQ platform for debt securities
Exbulletin
National Stock Exchange: NSE launches a new version of the RFQ platform for debt securities
28 September 2020
To cater to requirements of bond markets, leading stock exchange NSE on Monday launched the new version of Request for Quote (RFQ) platform.
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
“Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation," said Vikram Limaye, MD and CEO of NSE.
According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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.
Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system.
The on boarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
NSE launches new version of RFQ platform to cater to bond markets
Little Posts
NSE launches new version of RFQ platform to cater to bond markets
28 September 2020
To cater to requirements of bond markets, leading stock exchange NSE on Monday launched the new version of Request for Quote (RFQ) platform.
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
“Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation," said Vikram Limaye, MD and CEO of NSE.
According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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.
Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system.
The on boarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
NSE launches new version of RFQ platform to cater to bond markets
OLT News
NSE launches new version of RFQ platform to cater to bond markets
28 September 2020
To cater to requirements of bond markets, leading stock exchange NSE on Monday launched the new version of Request for Quote (RFQ) platform
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation," said Vikram Limaye, MD and CEO of NSE.
According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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.
Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system.
The onboarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
NSE launches new version of RFQ platform to cater to bond markets
New on News
NSE launches new version of RFQ platform to cater to bond markets
28 September 2020
To cater to requirements of bond markets, leading stock exchange NSE on Monday launched the new version of Request for Quote (RFQ) platform
The RFQ platform for debt securities was launched in February that allows market participants to transact in debt securities by requesting quotes from several participants, simultaneously.
Now, the bourse has launched the new version with several features which include voice-based negotiations in order to bring transparency to bond trading, as per the statement by the National Stock Exchange (NSE).
To reduce information asymmetry, the NSE RFQ platform provides information about bonds, term sheets, price information, market quotes, among others to all market players to trade in corporate bonds, securitized debt, municipal bonds, commercial paper, government securities (G-Sec) and treasury bills (T-bills).
Pre-trade transparency and bringing bond markets to an electronic trading platform will propel Indian bond markets into a higher growth phase. The RFQ platform brings all major debt securities into a unified marketplace with information, data and analytics to empower market participants and to deepen and widen participation," said Vikram Limaye, MD and CEO of NSE.
According to him, there is a need to attract a wider section of participants to the bond markets to make it robust and vibrant and the RFQ platform will help in achieving this objective.
An ISIN-level market watch is provided to the participants to view the summary of market activity in a given International Securities Identification Number (ISIN). It also provides market depth in the security along with information of best bid and best ask for the quotes initiated.
The platform offers high flexibility with features such as the ability to initiate quotes anonymously/with identity, sending quotes to select participants/ entire market, choosing deal parameters, quantity condition among others.
"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.
Alternatively, participants can choose to close deals on yield and price in one go," the exchange said.
From the risk management perspective, participants can set trading limits for counter-parties which are then monitored by the system.
The onboarding process has been made simple for existing CBRICS (Corporate Bond Reporting and Integrated Clearing and Settlement Platform) participants with an added feature of automated reporting of RFQ trades on the reporting platform to make the entire trade, reporting, and settlement process completely seamless.
Updated on: 04/11/2020
