Vote No Houston Bonds November 6, 2012
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Until 2007, information on Indian corporate bond market turnover was incomplete and largely
anecdotal. In 2007, however, the Securities and Exchange Board of India (SEBI) launched
initiatives to ensure more comprehensive reporting of the over-the-counter (OTC) bond market
(Figure 8). Current volumes are running at low levels—around 140 transactions amounting to
about USD80 million per day. But corporate bond markets worldwide are typically illiquid,
5
so it
may be overly optimistic to expect India to develop a uniquely liquid corporate bond market.
Nonetheless, a more liquid market should eventually contribute to lower costs of capital for
issuers. India’s corporate turnover ratio...
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Vote No Houston Bonds November 6, 2012
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Vote No Houston Bonds November 6, 2012
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