S&P BSE Liquid Rate Index launched

Posted on:18 Aug 2016 09:26:05
S&P BSE Liquid Rate Index launched
18 August 2016 Current Affairs: Asia Index, a joint venture between S&P Dow Jones Indices and BSE, launched a new index to measure the performance of Collateralised Borrowing and Lending Obligation (CBLO) rate one of the most liquid rates in the country  over a period of time.

The new index S&P BSE Liquid Rate Index  can be used to create exchange traded funds (ETFs) for both retail and institutional investors.The index is designed to measure the returns from a daily rolling deposit at the CBLO rate.

As the Indian fixed income market is maturing, investors are seeking a tool to measure the performance of CBLO rates over a period of time.

With the launch of S&P BSE Liquid Rate Index, we are expanding our fixed income indices offering in the most actively traded instrument in the money market. The CBLO rate is considered one of the most liquid rates in India, in the overnight segment.

The new index would be calculated using the CBLO rate for transactions maturing on the following business day.Rates used would be provided by Clearing Corporation of India Ltd (CCIL).The S&P BSE CBLO Index is calculated only on those days when both BSE and CCIL are open.

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