This is with reference to RBI circular number FMRD.DIRD.4/14.03.024/2017-18 dated August, 10th 2017 regarding Tri-Party Repo (Reserve Bank) Directions, 2017. Subsequent to this, BSE has received approval from RBI and SEBI to act as Tri-Party agent.
In view of this, Exchange proposes to launch Tri-Party Repo in corporate debt securities with effect from Monday, May 28, 2018.
To familiarise with the trading platform, Exchange has been conducting mock sessions for market participants of Exchange as per notice number 20180406-55 dated April 06, 2018.
Tri-Party Repo platform shall be made available 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.
· Trading timings shall be as follows -
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Timings
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Settlement Type
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9:00 am to 1:00 pm
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T0
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9:00 am to 5:00 pm
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T1
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Membership Process for Tri Party Repo
Basket Repo
- Any participant desirous of participating in BSE Tri-party repo will have to take membership of New Debt Segment. Guidelines of membership in New Debt Segment are given in Exchange circular no. 20130531-31 dated May 31, 2013.
- All existing members of New Debt Segment will be allowed to participate provided they fall under the eligible participant criteria specified by RBI vide Tri Party Repo directions dated August 10, 2017 and execute Tri-Party Repo agreement with BSE/ICCL.
Special Repo
- All eligible participants specified by RBI vide Tri Party Repo directions dated August 10, 2017 can access the platform after executing Tri-Party Repo agreement with BSE/ICCL.
Please note that only one Tri-party repo agreement needs to be executed for accessing Basket and Special Repo platforms. On completion of membership formalities, members shall be provided with login credentials to access Basket Repo and Special Repo platforms.
In case of queries market participants may kindly get in touch with Fixed Income Team as given below-
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Name
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Email ID
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Contact Number
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Ankit Parekh
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022-22728377
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Pranav Gupta
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022-22728548
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For more details kindly refer following Annexures -
Annexure 1 - Trading Rules & Product description
Annexure 2 - File Formats - Contract Master, Trade File, Deal Ticket and Valuation file
Annexure 3- BSE Contact Details for information related to Membership, Login, Functional queries etc.
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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May 22, 2018 |