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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

BSE-Reiteration of SEBI Circular Simplification of operational process and clarifying regarding the cash flow disclosure in Corporate Bond

09-Jun-2025 | 20250609-48

BSE has reiterated SEBI's circular regarding the simplification of operational processes and clarification of cash flow disclosures in the Corporate Bond Database, following the review of the Request for Quote (RFQ) Platform framework. The circular will be effective from August 18, 2025.

Key updates in the circular:

1. Clause 9 has been added to Chapter XXII of the Master Circular, specifying provisions for trade execution and settlement on the RFQ platform. It clarifies that cash flow dates for payments (interest, dividend, redemption) of securities traded on the RFQ platform will be based on the due date as per the cash flow schedule, rather than the actual payment date, and will not be adjusted for day count conventions in yield-to-price computations.

2. Para 57 has been included in Annex-XIV-A of the Master Circular, outlining the list of data fields issuers must submit to depositories when allotting ISINs. This section also specifies the format for detailing cash flow schedules- covering interest, dividend, and redemption which must be provided in the centralized corporate bond database at the time of ISIN activation.

Kindly refer to the attached document for more details.

Let me know if you'd like further refinements!
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