The Securities and Exchange Board of India (Sebi) in 2018 came out with a framework for interoperability among clearing corporations with an aim to reduce trading costs.
In addition, the exchange has also come out with framework for participation in the OFS segment on the BSE.The BSE on Thursday said interoperability among clearing corporations for sale of shares through the offer-for-sale (OFS) mechanism will be implemented from July 13. The interoperability permits trading members to clear trades through a firm of their choice instead of going through the central clearing counterparty owned by the bourse on which the trade was executed.
The interoperability among clearing corporations for OFS will be implemented with effect from July 13, 2020, the BSE said in a circular. In addition, the exchange has also come out with framework for participation in the OFS segment on the BSE. The guidelines also contain the requirements to be complied by seller — promoter entity or non-promoter shareholder — intending to select the BSE as designated exchange.
The Securities and Exchange Board of India (Sebi) in 2018 came out with a framework for interoperability among clearing corporations with an aim to reduce trading costs.
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