Sebi allows all RBI-authorised payment systems for RFQ settlement
Corporate LawsJan 10, 2023
The
Securities and Exchange Board of India (Sebi), in a circular issued on Monday,
clarified that all payment mechanisms provided by banks and payment aggregators
authorised by the Reserve Bank of India (RBI) to be used for settlement of
trades executed on the Request for Quote or RFQ platform.
This was in response to a clarification sought by stock exchanges and market
participants as to whether payment mechanisms other than ‘Real-Time Gross
Settlement’ or RTGS could be used for settlement.
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