The Hindu Business Line : Corporate bonds: Deals over Rs 1 lakh must be reported

All transactions in corporate bonds of value Rs 1 lakh and above, from January 1, must be reported on the corporate bond platform to be set up by BSE.

The decision follows the Union Budget proposal on the creation of a unified platform for trading of corporate bonds.

According to a SEBI circular, transactions above Rs 1 lakh shall be reported within 30 minutes of closing the deal. Settlements have to be reported within one trading day from completion of trades.

The unified trading platform is intended to capture all information related to trading in corporate bonds through an authorised reporting platform.

The BSE should ensure operation of the corporate bond reporting platform from 10 a.m. to 5.30 p.m. on all trading days and access shall be given to all market intermediaries for reporting, the SEBI circular said.

The regulator has also asked BSE to flash data, reported on its platform, on its Web site on a real-time basis.

SEBI has made it mandatory for issuers to disclose all material information such as rating obtained on the instruments as and when they take place.

Issuers have also been told to record details like date of the transaction, put/call option dates and units exercised under put/call option.

The reporting shall be made for all trades in listed debt securities issued by all institutions such as banks, public sector undertakings, municipal corporations, bodies corporate and companies, the SEBI circular said.

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