Markets regulator SEBI on Thursday put in place a framework for upfront collection of funds from eligible issuers of debt securities to build the Settlement Guarantee Fund of the Limited Purpose Clearing Corporation (LPCC).
The eligible issuers would be notified by the LPCC as per its risk management policy, the Securities and Exchange Board of India (SEBI) said in a circular.
LPCC is an entity established to undertake the activity of clearing and settlement of repurchase agreement transactions.
Under the framework, SEBI said that an amount of 0.5 basis points of the issuance value of debt securities per annum based on the maturity of debt securities will be collected by the stock exchanges and placed in an escrow account before the allotment of the debt securities.
This amount is applicable on a public issue or private placement of debt securities.
The stock exchanges would transfer the amounts so collected to the bank account of the LPCC within one working day of the receipt of

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National Stock Exchange (NSE) on Friday said it will launch futures contracts on underlying WTI crude oil and natural gas in the commodity derivatives segment from May 15.
This comes after the exchange, last month, received approval from markets regulator Sebi to launch the rupee-denominated Nymex WTI crude oil and natural gas futures contracts in its commodity derivatives segment.
These contracts will expand NSE’s product offering in the energy basket and its overall commodity segment.
Experts believe that these contracts would provide the market participants with an efficient avenue to hedge their price risk.
“Futures contracts on underlying WTI crude oil and natural gas (Henry Hub) would be available for trading in commodity derivatives segment with effect from May 15, 2023,” NSE said in a circular.
In February, NSE signed a data licensing agreement with CME Group. The pact allows the bourse to list, trade and settle rupee-denominated WTI crude oil and natural gas derivatives .