Edelweiss offers a wide range of innovative products in the Fixed Income domain and caters to multiple market and client segments.
Edelweiss is among the leading intermediaries in the Fixed Income Market and services the investment needs of the participants as a knowledge provider. While the Fixed Income market in India has attained some depth and maturity in Government Securities, the Corporate Bonds market still has a long way to go. The emergence of a full-fledged Corporate Bond market is one of the pre-requisites for the Indian economy to meet its massive infrastructure funding requirement. With a heightened focus on treasury operations by banks and an increase in the number of market participants, the Fixed Income market is in a high growth phase.

Fixed Income Service Offerings
- Intermediation services in the secondary market to Edelweiss’ 400-strong client base; including Banks, Financial Institutions, Primary Dealers, Mutual Funds, Insurance Companies, Pension and Provident Funds and Corporates.
- Structured Deals in conjunction with the Investment Banking team.
- Knowledge sharing through daily deal records, daily market pulse and weekly market analysis.
- Providing a platform for interaction amongst various market participants (Our Fixed Income Conference offered an important platform for discussion of various debt market opportunities).

Future Outlook
The market for Corporate Bonds in India today constitutes only around 3% of the market for Government Securities, while internationally Corporate Bond markets are larger than Government Securities. With over USD 1 Trn infrastructure spending in the next few years, the Government of India has focused on the development of this market which will offer an efficient avenue for fund raising. Steps in this direction include the development of the Interest Rate Future (IRF) in short maturity instruments and laying the groundwork for developing Credit Default Swap (CDS) mechanisms. With gradual increments in debt investment, limits for Foreign Institutional Investment (FII) participation are likely to be increased manifold in the coming years. Edelweiss has set up a dedicated FII Desk to cater to the requirement of FII clients and develop a strong foothold amongst this emerging investor class.

Retail Investors are the other emerging investor class in the debt arena. The success of Retail Bond issues by Non-Banking Financial Companies and India’s largest Bank SBI, with over 300,000 Retail Investors participating in offerings, bear testimony to this development. Edelweiss has been at the forefront of mobilizing funds in these retail issues and also offers post-issue liquidity support through active market making.

 

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