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KOLKATA: The Bombay Stock Exchange will introduce a secured settlement platform for the Rs 1,500-crore Indian Corporate Debt Market (ICDM) next week.

The new initiative is aimed at mitigating the market risk of a buyer not receiving bonds after having remitted the funds or a seller not getting the payment for bonds.

The BSE would also launch soon a Corporate Bond Repo, another new product for the Indian market.

“We hope to operationalise the ICDM platform on the exchange by next week,” Mr Sayee Srinivasan, Head-Product Strategy, BSE, told PTI.

“We are now in the process of signing up banks and other players in the system and testing our connectivity with their back offices, depositories, and RBI’s RTGS system,” he said.

The exchange is participating in education seminars and roadshows across cities to inform market participants about the new settlement platform.

Mr Srinivasan said the BSE is awaiting guidelines for the Corporate Bond Repo. “After RBI provides the guideline, we will launch CBR in four weeks,” he said. — PTI

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