BSE’s India INX gets SEBI nod for listing framework of debt securities
Mumbai/Bangalore, December 8, 2017: BSE’s India International Exchange (India INX), country’s first international exchange, today received approval from the Securities and Exchange Board of India on the framework for listing of debt securities.
Cheering the development, MD& CEO Mr. V. Balasubramaniam said “We are delighted to receiveapproval for listing of international debt securities. This marks a landmark inIndia's effort to foray into international financial services. For the firsttime in India's IFSC at GIFT City, Indian and foreign issuers can now issuemasala bonds, eurobonds and foreign currency bonds from India INX.”
The exchange had approached the regulator in Octoberfor its approval on listing of debt securities.
India INX will also be the first Indian exchange tooffer clearing and settlement of debt securities through International CentralSecurities Depositories. Earlier this year, the exchange had set up itsclearing and settlement capabilities for international securities throughClearstream and is already in talks with Euroclear.
International issuers too may prefer to list theirforeign currency bonds with India INX in time to come.
With the approval for debt listing, India INX expectsa significant increase in its daily trading volumes. Currently, the exchange isclocking an average of $100 million of trading volume everyday.
“We are working towards offering a transparent androbust listing framework at par with other international listing venues. IndiaINX is a wholly owned subsidiary of BSE which is a market leader in primarymarkets in India. So, our platform will provide an additional comfort of trustto the Indian issuers when they opt to raise funds internationally,” Mr.Balasubramaniam added.