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The Debt Market is the market where fixed income securities of various types and features are issued

and traded. Debt Markets are therefore, markets for fixed income securities issued by Central and State Governments, Municipal Corporations, Govt. bodies and commercial entities like Financial Institutions, Banks, Public Sector Units, Public Ltd. companies and also structured finance instruments

A market that issues new securities on an exchange. Companies, governments and other groups obtain financing through debt or equity based securities. Primary markets are facilitated by underwriting groups, which consist of investment banks that will set a beginning price range for a given security and then oversee its sale directly to investors.

Issue of securities through auction Issue of securities with preannounced coupon rates. Issue of securities through tap sale. Issue of securities in conversion of maturing treasury bills/dated securities.

FUND RAISED THROUGH AUCTION& TAP ROUTE IN PRIMARY DEBT MARKETRS .IN MILLONS

Government Securities. Treasury Bills. Securities with variable coupon rates Zero Coupon Bonds. Floating Rate Bonds. Dated securities. Securities with fixed coupon rates.

Insurance Companys.
Foreign Institutional Investors.

Provident and pension funds. Small and Medium Sized Investors. RBI. PRIMARY DEALERS.

security

GROSS

NET

08-09 CENTRAL GOVT


DATED 364 BILLS

07-08 1,882,050 1,560,000 * 322,050 677,790 2,559,840

08-09 2,423,170 2,289,720 133,450 1,037,670 3,460,840

07-08 1,095,030 1,106,710 -11,680 562,240(E) 1,657,270

3,185,500 2,730,000* 455,500 1,181,380 4,366,880

STATE GOVT TOTAL

IT simply means that issuing bond,securities,debt instrument,government securities,t-bills,corporate bonds,etc in trading system of stock exchange.

Banks. Institutions. Primary Dealers. Mutual Funds. PDs RBI INDIVIUALS

CENTRAL & STATE GOVT.


DATED SECURITIES T-Bills. PSUs Bonds, Structured Obligations. Corporates. Debentures. Corporates, PDs. Commercial Papers. Scheduled Commercial Banks Bank Bonds Municipal Corporation. Municipal Bonds

Negotiated Dealing System(NDS). NDS Order Matching (NDSOM). WDM Segment of NSE Trading System. Retail debt market(RDM).

IT IS REGULATED BY RBI. DEALING. MEMBERS. SGL. SSS.

HISTORY
The Exchange started its trading operations in June 1994. trading platform for fixed income securities .

.TRADING SYSTEM.
NEAT (National Exchange for Automated Trading)

Driven market.

REGULATE RBI. CCIL.

Corporates (Public limited companies andPrivate limited companies)


Paid-up capital of Rs.10 crores; or Market capitalisation of Rs.25 crores (In case of unlisted companies Networth more than Rs.25 crores) Credit rating

Public Sector Undertaking, Statutory Corporation established/ constituted under Special Act of Parliament /State Legislature, Local bodies/authorities,

Credit rating. Mutual Funds: Qualifis for listing under SEBI s Regulations.

Infrastructure companies
Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued. Credit rating Banks  PUBLIC ISSUE Scheduled banks Networth of Rs.50 crores or above Qualifi es for listing under the respective Acts, Rules or Regulations under which the securities are issued.  PRIVATE PLACEMENT Credit rating Scheduled BaNK. Networth of Rs.50crores or above .

Year

Market Capitalisation (Rs.crores)

Trading Days

Number of Trades

Net Traded Value (Rs.crores)

Average Daily Value (Rs.crores)

Average Trade Size (Rs.crores)

2010-2011 2009-2010 2008-2009 2007-2008 2006-2007 2005-2006 2004-2005 2003-2004

3276734 3276734 2848315 2123346 1784801 1567574 1461734 1215864

83 239 238 248 244 271 293 294

8111 232352.45 24069 563815.95 16129 335951.52 16179 282317.02 19575 219106.47 61891 475523.48 124308 887293.66 189518 1316096.24

2799.43 2359.06 1411.56 1138.38 897.98 1754.70 3028.31 4476.52

28.65 23.42 20.83 17.45 11.19 7.68 7.14 6.94

Years

Government Securities 7,248,302 3,455,629 1,533,697 1,943,470 2,342,884 789,487

T-Bills

PSU/ Inst. Bonds 178,346 121,734 44,178 92,318 300,080 208,054

Others

Total turnover 8,872,936 4,755,235 2,191,065 2,823,170 3,359,515 1,304,865

2004-05 2005-06 2006-07 2007-08 2008-09 AprilJune 09

1,248,422 1,052,333 519,541 660,662 568,239 209,802

197,866 125,538 93,648 126,760 148,313 97,522

Govt. Of India Securities and T-Bills


Order Value upto Rs.10 million 25 ps. per Rs.100 More than 10 million upto 50 million 15 ps. per Rs.100 More than 50 million upto 100 million 10 ps per Rs.100

State Govt. Securities & Institutional Bonds Order Value upto Rs.2.5 million 50 ps. per Rs.100 More than 2.5 million upto 5 million 30 ps. per Rs.100 More than 5 million upto 10 million 25 ps per Rs.100 More than 10 million upto 50 million 15 ps per Rs.100 More than 50 million upto 100 million 10 ps per Rs.100 More than 100 million 5 ps per Rs.100

HISTORY The Exchange started its trading operations in January 16, 2003 trading platform for Central Government securities . .TRADING SYSTEM. the NEAT System of the Exchange DRIVEN SYSTEM.

Mutual Funds Provident Funds Pension Funds Private trusts. Religious Trusts and charitable organizations having large investible corpus State Level and District Level Co-operative Banks Housing Finance Companies Hindu-Undivided Families (HUFs) Individual Investors

RDM Business Growth Month/Year 2010-2011 2009-2010 2008-2009 2007-2008 2006-2007 2005-2006 2004-2005 2003-2004 No of trades 0 5 0 0 4 0 31 912 Traded quantity 0 50 Traded Value (Rs.lakhs) 0.00 0.06 0.00 0.00 13.69 0.00 149.27 464.41

Retail Debt Market

0 0

12,120 0 122,390 372,820

TRADING . NSE & BSE. CLEARING & SETTLEMENT NSCCL ICCL.

Trade Statistics for 26-Aug-2010 No. of securities traded 34 No. of Trades 38 Traded Value (Rs. crores) 656.50

The base date for the index is 1st January 1997 and the base date index value is 100. The index uses all Government of India bonds issued after April 1992. Each day, the prices for all these bonds are estimated off the NSE Benchmark-ZCYC for the day. Computations are based on arithmetic and not geometric calculations. Coupons and redemption payments are assumed to be reinvested back into the index in proportion to the constituent weights.

Securities

2008-09

April-June 2010

(Rs. mn.) Government Securities WDM Segment of NSE Rest of SGL Non Government Securities Segment of NSE WDM Segment of NSE Category of BSE Total 62,254,360 2,911,124 59,343,816 459,110 16,576,430 999,289 15,577,141 309,024

1,005 448,391 9,714 62,714,050

683 305,576 2,765 16,885,454

Turnover of Debt Securitie s

Issuer / Securities Government

Amount raised form Primary Market 2007-08 2,559,840 2008-09 4,366,880 1,758,267 6,125,147

Turnover in Secondary Market 2007-08 56,273,470* 222,273 56,495,743 2008-09 62,254,360* 459,110 62,713,470

Corporate/No 1,162,661 n Government Total 3,722,501

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