Trading members/market participants are hereby informed that the Exchange proposes to introduce Tri-Party Repo for corporate debt securities. To familiarise market participants with the Tri-party Repo platform, mock trading session shall be conducted from Monday, April 9, 2018 onwards.
Exchange shall be conducting mock session for Basket Repo and Special Repo, details for which are as follows –
· Basket Repo shall be conducted on anonymous order matching platform of Exchange.
· Special Repo shall be conducted on the existing web-based platform NDS-RST.
· Timings for Mock sessions shall be as follows:
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Session for T+0 settlement
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10:30 am to 3:30 pm
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Session for T+1 settlement
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10:30 am to 5:00 pm
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· Market participants are requested to send a request email providing member/ participant name, member/ participant ID (if any), contact person name, contact no. & email ID for obtaining login IDs for both platforms. Email should be sent to user.trdops@bseindia.com & debtinfo@bseindia.com. Exchange shall provide Admin user login details and thereafter user/dealer login IDs can be created using the Admin login.
· To participate in the basket repo platform in mock session, market participants may download the Exchange front-end application set-up of BOLT Plus on Web (BoW) from the given web-link – http://www.bseindia.com/downloads1/BOWMemSim.zip
· To participate in the Special Repo platform in the mock session, market participants can access mock environment of NDS-RST system using the web-link – https://demo.bseindia.com/icdmdebt/login.aspx
· Market participants shall be provided with borrowing/ lending limits to participate in both, Basket Repo & Special Repo.
Product description for Basket Repo and Special Repo, which shall be available for mock session are as follows –
Product Description for Basket Repo
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Product
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Description
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Platform
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Anonymous order matching
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Repo Tenor
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Up to 10 days
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Repo Sub-type
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Transferable (T): Securities transferred to the Lender
Non-transferable (NT): Securities held by Clearing Corporation
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Settlement Type (Ready leg)
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T+0 & T+1
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Tick Size
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1 basis point (0.01)
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Quotation
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Repo Rate (% p.a., upto 2 decimal places)
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Market lot
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Transferable repo - 100
Non-transferable repo - 1
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Lot size (value)
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INR 1 lac
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Basket description of Corporate Bond securities
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'AAA' rated eligible securities with residual maturity 1 to 5 years
'AAA' rated eligible securities with residual maturity 5 to 10 years
'AAA' rated eligible securities with residual maturity 10 to 20 years
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Basket description of Certificate of
Deposit (CD) & Commercial Paper (CP) securities
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A1+ rated eligible securities with residual maturity 20 days to 360 days
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Order Type
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Limit orders
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Client Type
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OWN (proprietary) account
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Repo Rate range
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2% to 20%
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Product Description for Special Repo
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Product
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Special Repo
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Platform
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Negotiated web-based platform NDS-RST
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Repo Tenor
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Up to 10 days
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Repo Sub-type
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Transferable (T): Securities transferred to the Lender
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Settlement Type (Ready leg)
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T+0 & T+1
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Tick Size
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1 basis point (0.01)
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Quotation
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Repo Rate (% p.a., upto 2 decimal places)
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Unit of Trading
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Value in INR
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Types of securities allowed
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Eligible list of Corporate Bonds and CDs eligible as per RBI guidelines (please refer list attached as annexure)
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In case of any queries or clarifications, market participants may kindly get in touch with the teams as given below –
For and on behalf of BSE Ltd.,
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Vivek Garg
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Tejash Somaiya
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General Manager
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Dy. General Manager
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Trading Development
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Trading Development
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April 06, 2018
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