New Delhi, Oct 6 (PTI) Sebi on Wednesday tweaked the norms pertaining to minimum percentages of monthly trades to be carried out by mutual funds on the Request For Quote (RFQ) platform of stock exchanges.
Under the revised norms, mutual funds will have to undertake at least 25 per cent of their total secondary market trades by value in corporate bonds and 10 per cent of their total secondary market trades by value in commercial papers by placing/seeking quotes through one-to-many mode on the RFQ platform.
Inter Scheme Transfer trades are excluded from the revised framework, Sebi said in a circular. The new norms will come into effect from December 1, 2021.
At present, the minimum percentage for corporate bonds trades is 10 per cent while there is no such separate percentage requirement for trades in commercial papers.
The changes have been done following recommendations made by the Mutual Fund Advisory Committee. PTI SRS RAM