SEBI proposes capping ISINs for corporate bonds to enhance liquidity
The Hindu
ISINs, which has 12 characters, is used for uniquely identifying securities like stocks, bonds warrants and commercial papers.
With an aim to boost liquidity in the corporate bond market, Securities Exchange Board of India (SEBI) on Friday suggested further capping the number of ISINs for such bonds issued on a private placement basis.
ISINs (International Securities Identification Numbers) code, which has 12 characters, is used for uniquely identifying securities like stocks, bonds warrants and commercial papers.
“Given that issuers are presently not utilising even half of the maximum ISINs allotted to them, it is felt that further capping of ISINs will not only reduce the fragmentation across the bond market and enhance liquidity premium but also help both issuers and investors alike,” SEBI said in a consultation paper.
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