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The National Stock Exchange has been running mock sessions for a revamped debt segment. The new version is set to go live from the beginning of next week.
The exchange’s modifications to the debt market segment include altering settlement and lot size norms.
The settlement has been changed to the first day after the transaction instead of the second for both institutional and retail investors. Also, the institutional segment for odd lots has been revised to Rs 10 lakh.
Odd lot refers to an order size which is less than the usual unit of trading.
The changes are effective from Monday, 11 November, according to an exchange notification. Mock trading which started on Wednesday will continue till Saturday, according to an exchange note released earlier in the month.
“To familiarize members with the new features, the Exchange shall conduct mock trading session in the Debt Segment from November, 06, 2013 to Saturday November, 09, 2013 as per the following schedule,” it said.
Other changes include making available a negotiated trade platform for debt securities including a segment where the settlement day would be the same day as the day of the trade. The same day segment would be available till 3 pm.
