InvestorQ : What is the listing procedure for G-Secs. In respect of the Retail Debt Market?
Arya Nanda made post

What is the listing procedure for G-Secs. In respect of the Retail Debt Market?

Answer
user profile image
Dawn Cherian answered.
1 year ago


Eligible Securities: All outstanding and newly issued central government securities are eligible to be traded on the automated, anonymous , order driven system of the eligible stock exchange. The Rules, Bye-Laws and Regulations of the Exchange provide for trading in Government securities as all G-Secs are deemed to be admitted to dealings on the Exchange from the date on which they are issued as per Bye-Law 22(a) and 22(b) of the Exchange.

Group: The Government securities have been introduced as a new group of securities - "G" Group in the BOLT system. The G-Secs are allotted a 6-digit scrip code (in the 800000 series) and 11 characters alpha-numeric scrip ID. The interpretation for the Scrip IDs of G-Secs. In BOLT is as under:

First 2 characters signify Central Government Security - CG

Next 4 Digits signify the coupon or interest rate of the G-Sec

Next 1 character is a differentiator which would be 'S' in case of a normal security and 'A' in case there exists another security with the same coupon and maturity year

Next 2 Digits signify the Issue Year and the last 2 digits signify the Maturity Year

The date in the Scrip Name stands for the Maturity Date of the Security

The Exchange will implement and monitor the suspension of trading during the shutdown period so that no settlements fall due in the no-delivery period which is on the T-3, T-2 and T-1 days for Government Securities (where T is the interest payment date for the security).