The National Stock Exchange (NSE) on October 26, 2023, issued the Corporate Debt Market Development Fund (CDMDF) Transactions on the RFQ Platform.
The following has been stated namely: -
• The CDMDF will act as a Backstop Facility for the purchase of investment-grade corporate debt securities, to instil confidence amongst the participants in the Corporate Debt Market during times of stress and to generally enhance secondary market liquidity by creating a permanent institutional framework for activation in times of market stress.
• To facilitate CDMDF transactions, a workflow has been developed on the existing NSE RFQ Platform.
• The CDMDF transactions executed on the RFQ platform would be settled by the NSE Clearing Ltd. (NCL).
• The CDMDF transaction flow in the existing NSE RFQ Platform shall be made available effective from October 27, 2023.
[Notification No. NSE/DS/59081]
