SEBI Issues Circular for Mode of Settlement for Traders Executed on the RFQ Platform

On 09th January 2023, the Securities and Exchange Board of India issued a Circular bearing the subject “Mode of settlement for trades executed on the Request for Quote (RFQ) platform”.

This particular circular was issued in reference to circular no.
SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/142 issued on 19th October 2022 (Request for Quote (RFQ) platform for trade execution and settlement of trades in listed Non-convertible Securities, Securitised Debt Instruments, Municipal Debt Securities and Commercial Paper), where permitted stock brokers registered under the debt segment of the Stock Exchanges (s) to place/ seek bids on the RFQ platform on behalf of the client(s), in addition to the existing option of placing bids in a proprietary capacity.