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SEBI approves BSE, NSE for electronic book mechanism launch
The capital market regulator on Tuesday approved stock market majors -- BSE and the National Stock Exchange of India (NSE) -- for launch of electronic book mechanism (EBM) for issuance of debt securities on private placement.
 
The Securities and Exchange Board of India (SEBI) allowed the key stock markets to carry out EBM under the provisions of an earlier issued circular dated April 21, 2016. The new regulation will come into effect from July 1, 2016.
 
“This mechanism would help in streamlining the procedures for issuance of debt securities on private placement basis. Known as BSE-BOND (BSE Bidding Online for Debt), this would ensure transparency while dealing in debt securities,” the BSE said in a statement.
 
“Any issuer can use the EBM. However, an issuer coming out with an issue of more than Rs500 crore (inclusive of the green shoe option) would have to mandatorily use this mechanism.” 
 
According to the NSE, the mechanism will streamline procedures for issuance of debt securities on private placement basis and enhance transparency to discover prices
 
"It is a bidding platform and will not function as a trading platform. Main beneficiaries of this mechanism will be issuers, arrangers, sub-arrangers, and participants, the NSE said in a statement.
 
"Presently the issuance of private placement has been made offline. The detailed guidelines on electronic book mechanism will be provided subsequently."
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Most operators fail call drop test in Mumbai: TRAI
Most of the telecom service providers, except Airtel 2G and 3G and Vodafone 2G, in the Mumbai circle have failed to meet call drop rate benchmark of less than 2%, said sector regulator TRAI in a statement on Tuesday after conducting a drive test.
 
IMRB International has carried out independent drive test for cellular mobile telephone service in Mumbai service area between May 10-13, the statement said.
 
"Most operators (in Mumbai circle), excepting Airtel 2G/3G and Vodafone 2G, are not meeting the under 2% call drop rate benchmark," said the Telecom Regulatory Authority of India (TRAI) statement.
 
It also stated that most telcos in Mumbai met the call set-up success rate benchmark of over 95%, except MTNL 2G and 3G and Reliance Communications 2G.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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