Stock brokers registered under the debt segment of the stock exchanges will be able to place bids on the Request for Quote (RFQ) platform on behalf of their clients from January 1, 2023, the Securities and Exchange Board of India (Sebi) announced. This facility will be in addition to the existing option of placing bids in a proprietary capacity.
The markets regulator expects that the new norm will enhance participation by the public, along with helping in deepening the secondary market on the corporate bonds side. At present, the share of RFQ trades in total trades in the bond market stands