SEBI partners with HDFC Bank to launch new trading system
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©Reuters. MUMBAI – The Securities and Exchange Board of India (SEBI) has introduced a new trading mechanism called Transactions Supported by Blocked Amounts (TSBA) for the cash and derivatives; equity markets in the country’s secondary market. HDFC Bank will play a key role in the system, acting as both a sponsor and a destination bank.
The TSBA system, which went live on January 1, 2024, uses Unified Payments Interface (UPI) technology to allow investors to freeze funds in savings accounts. This innovative approach aims to streamline the process of meeting margin and settlement obligations, thereby enhancing the overall trading experience for market participants.
By integrating UPI, the TSBA system simplifies transactions and enables investors to manage their funds more easily without the need to move funds out of the account when needed.
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