New Delhi : Stock exchange major BSE on Friday said its wholly-owned subsidiary India International Exchange (India INX) has received approval from the securities market regulator Securities and Exchange Board of India (Sebi) on the framework for listing of debt securities.

According to a BSE statement, with the approval for debt listing, India INX expects a significant increase in its daily trading volumes which currently stood at an average of $100 million every day.

The exchange had approached the regulator in October for its approval on listing of debt securities.

“For the first time in India’s IFSC at GIFT City, Indian and foreign issuers can now issue masala bonds, eurobonds and foreign currency bonds from India INX,” said V. Balasubramaniam, Managing Director and Chief Executive Officer, India INX.

The statement said the India INX will be the first Indian exchange to offer clearing and settlement of debt securities through International Central Securities Depositories.

“Earlier this year, the exchange had set up its clearing and settlement capabilities for international securities through Clearstream and is already in talks with Euroclear,” the statement said.

International issuers too may prefer to list their foreign currency bonds with India INX in time to come, it added.

—IANS