BSE and ICCL implement SEBI’s interoperability framework

BSE, Asia’s oldest exchange and now the world’s fastest exchange with the speed of 6 microseconds and ICCL, one of the leading Clearing Corporations in the world, have gone live and implemented interoperability framework starting from June 3, 2019. This is as per the market regulator SEBI’s guidelines to put in place the required infrastructure for operationalizing interoperability. SEBI had laid down the broad guidelines for operationalizing the interoperable framework among Clearing Corporations, which was required to be operationalized by Stock Exchanges and Clearing Corporations by June 1, 2019. BSE and ICCL had deployed the new Interoperability system on day after implementation of Interoperability; during the day, ICCL received and cleared multiple trades from BSE and MSE. Ashishkumar Chauhan, MD & CEO, BSE, said, “We thank SEBI for conceptualising   the world class interoperability framework. It will reduce the requirement for funds as well as reduce risk on the overall system when all the stock exchanges and clearing corporations become interoperable  making Indian stock market  more robust.”