Beneath this, it has offered an up to date record of knowledge fields to be maintained within the database together with the way of submitting the identical, Sebi mentioned in a round.
The regulator has additionally specified obligations of events concerned, contents of the database and method of submitting the knowledge.
The regulator had in October 2013 mandated depositories to collectively create, host and preserve a centralised database of company bonds held in demat type.
“Pursuant to discussions with market members, it has been determined to additional streamline the database and supply additional ease of entry of knowledge for traders,” Sebi mentioned.
This new framework will probably be relevant for debt securities issued on or after August 1, 2021.
With regard to depositories, Sebi mentioned they should proceed to collectively create, host, preserve and disseminate the centralised database of company bonds held in demat type.
All historic information accessible within the database will proceed to be hosted by the depositories.
They should guarantee to have satisfactory methods and safeguards to take care of the integrity of knowledge and to stop manipulation of knowledge. Every depository should synchronise the database in session with the opposite depositories.
The depository which receives info from an issuer should host the identical in addition to share it with the opposite depository for internet hosting inside three working days from the date of receipt of the knowledge.
Additionally, they should present safe login credentials to issuers, inventory exchanges, credit standing businesses and debenture trustees for updating and verifying requisite info within the company bond database throughout the required timelines.
In addition to, depositories want to offer the knowledge accessible with respect to the redeemable desire shares and securitised debt devices, in a separate part throughout the database, within the type as accessible with them, after sharing the identical with the opposite depository for synchronising and updating the information.
In respect of issuers, Sebi mentioned they should present particulars pertaining to issuer, difficulty, instrument classification and its element, credit standing with identify of credit standing company and date of credit standing and default historical past info, amongst others, within the database on the time of allotment of the ISIN.
Additional, depositories should confirm the knowledge as offered by issuer on the time of activation of ISIN (Worldwide Securities Identification Quantity).
ISIN code, which has 12 characters, is used for uniquely figuring out securities like shares, bonds warrants and industrial papers.
Publish itemizing of securities, issuers should submit info on itemizing particulars, a hyperlink of ‘itemizing notification by inventory change’ or last approval hyperlink, particulars of file date, credit standing, cost standing and default historical past info to any of the bourses the place their securities are listed on a periodical foundation and or ‘as and when’ foundation.
The inventory change should point out the format of submitting to the issuers on this regard.
With respect to inventory exchanges, Sebi mentioned bourses and depositories should develop a system such that info acquired by them is up to date on the centralised database each day.
Additional, exchanges should confirm itemizing particulars offered by issuer on the time of allotment of the ISIN in addition to submit itemizing.
Additionally, they should replace occasion based mostly and periodical info within the database when acquired from the issuers.
Within the case of credit standing businesses (CRAs), Sebi mentioned CRAs can have entry the database to confirm the ranking info uploaded by the issuer.
In case of any discrepancy, CRAs have to notify the identical to inventory exchanges and replace the proper info within the database throughout the time stipulated.
Sebi mentioned that debenture trustees can have entry the database to confirm the knowledge concerning default historical past and different related info.
In case of any discrepancy, it should notify the identical to exchanges and replace the proper info within the database, throughout the stipulated timeframe.
With regard to timelines, Sebi mentioned CRAs have to confirm and replace subsequent ranking migrations info within the database inside one working day from the press launch.
On verification of preliminary ranking info offered by the issuer in respect of the ISINs for the devices, the regulator mentioned CRAs have to replace the identical inside three working days in case of any variation.
Additional, it will likely be the accountability of debenture trustees to confirm and replace default historical past details about the instrument/ issuer, as relevant within the database, inside seven days of data of default.