BSE and ICCL implement interoperability framework

Bombay Stock Exchange and ICCL are live abiding by SEBI's interoperability framework. The system was deployed on Saturday, June 1 and operated seamlessly during Monday's trade.

This is as per the market regulator SEBI's guidelines to put in place the required infrastructure for operationalizing interoperability. SEBI, through a circular dated November 27, 2018 had laid down the broad guidelines for operationalising the interoperable framework among Clearing Corporations, which was required to be operationalised by Stock Exchanges and Clearing Corporations by June 1, 2019. 

BSE and ICCL had deployed the new Interoperability system on Saturday, June 1, 2019. Monday, June 3, 2019 was the first trading day after implementation of Interoperability; during the day, ICCL received and cleared multiple trades from BSE and MSE.

To ensure that the transition to interoperability is seamless and non-disruptive, it was jointly decided by all Stock Exchanges and Clearing Corporations that members can choose a functional date for going live with Interoperability on any Monday from June 3, 2019 till July 1, 2019.