Based on the communication received from SEBI, all the existing segments of dealing in debt securities for reporting and settlement are consolidated under dedicated debt segment (New Debt Segment)

Accordingly, WDM segment, Reporting and Settlement platform, RFQ platform and Non-Guaranteed Tri Party Repo shall now become part of New Debt Segment of BSE.

RFQ platform, Reporting and Settlement platform and Non-Guaranteed Tri-party Repo function on participant model and the participants shall not be required to take membership of BSE as stock broker.

Since there is no change in the trading / transaction set up and all other membership and settlement processes being the same, the relevant settlement of trades/transactions will take place as per the existing normal processes with ICCL. 

The features of the New Debt Segment (NDS) shall be as follows: -

a)       The Segment shall facilitate reporting to existing WDM members on the platform. In future any Trading Members desiring to only report debt securities trades and settlement done by the clients directly shall be admitted on NDS segment. 

b)      The Segment shall also continue to facilitate Trading Members to trade and settle on NDS segment.

c)       All the existing Members of WDM segment shall be a part of the NDS segment.

d)      The existing F-Group and G-Group shall not be part of the NDS.

e)       Existing trading members of BSE applying for New Debt segment as additional segment will have an option to apply as Reporting Trading Members (RTM) for WDM and / or TM/SCM/TCM for New Debt Segment.

f)       Networth requirement for all trading members including Reporting Trading Membership will be same i.e. Rs. 50 lacs or as prescribed by SEBI/Exchange from time to time.

For a new entity which is applying exclusively for New Debt Segment, following terms and conditions shall apply:

1.       Membership Type: Reporting Trading Members (RTM) for WDM and/or TM/SCM/TCM for New Debt Segment.

2.       Membership Deposit of Rs.10 lakhs

3.       Admission Fees Rs.50,000/- plus applicable taxes.

4.       Annual Subscription of Rs.1,00,000/- plus applicable taxes.

5.       Processing fees of Rs.5000/- plus applicable taxes.

In case Trading Members require any further clarification in this regard, they may please contact on the following email ids:

·         membership.ops@bseindia.com

·         fixedincome@bseindia.com

Vijay Krishnamurthy                                                  Johnson Chiriyath

Head- Fixed Income                                                  Addl. GM-Membership Operations

Encl : Reporting Trading member activation form