India's BSE to hold special securities lending session
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India's BSE to hold special securities lending session 30 April 2013Mumbai Reporter: Mark Dugdale
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The Bombay Stock Exchange (BSE) is conducting a special securities finance trading session on 11 May to test its disaster recovery systems.
The session will be held in the BSE’s securities lending and borrowing (SLB) segment on 11 May between 10am and 13.25pm, according to a circular.
Transactions that are conducted during the special trading session will be settled separately.
India’s SLB rules were relaxed in November 2012. Lenders and borrowers were allowed to carry their positions forward for up to three months rather than one.
Market participants argued that the changes would not go far enough and expressed a desire to move away from the country's stock exchange settlement system to an OTC format.
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