The National Stock Exchange (NSE) on October 27, 2023, issued a notification regarding the Corporate Debt Market Development Fund (CDMDF) Transactions Settlement.
The following has been stated namely: -
• The facility for settlement of transactions in respect of CDMDF on the NSE RFQ platform has been introduced. Market Participants/Custodians are requested to note of the settlement process in respect of CDMDF transactions on the NSE RFQ platform.
• Participants selling the securities on the NSE RFQ platform shall be required to transfer the securities to the prescribed account of NSE Clearing Ltd.
• Funds payout to sellers shall be in respect of only the “cash consideration” as specified in the CDMDF framework specified in the Guarantee Scheme for Corporate Debt (GSCD) and/or SEBI circular issued from time to time.
• The funds pay-out shall be to the registered bank account maintained by the participants on the NSE CBRICS platform.
[Notification No. NCL/DS/59129]
