Reporting of OTC transactions in Certificates of Deposit (CDs) and Commercial Papers (CPs)
RBI/2009-10/515
IDMD.DOD. 11 /11.08.36/2009-10
June 30, 2010
To All RBI Regulated Entities
Dear Sir,
Reporting of OTC transactions in Certificates of Deposit (CDs) and
Commercial Papers (CPs)
Please refer to Paragraph 69 of the Annual Policy Statement of 2010-11 announcing the decision to introduce a reporting platform for all secondary market transactions in CDs and CPs. In this regard, FIMMDA was requested by the Reserve Bank of India to setup a reporting platform to capture all OTC transactions in CDs and CPs. FIMMDA has now informed its readiness to operationalize the reporting of transactions in CDs and CPs as part of its existing reporting platform for the corporate bonds.
2. Accordingly, beginning July 01, 2010, all RBI-regulated entities shall report their OTC transactions in CDs and CPs on the FIMMDA reporting platform within 15 minutes of the trade for online dissemination of market information. Detailed procedure in this regard would be advised by FIMMDA.
Yours faithfully,
(K K Vohra)
Chief General Manager
Notes :-
Paragraph 69 of the Annual Policy Statement of 2010-11 is mentioned below
Financial Market Infrastructure
Reporting Platform for Certificates of Deposit (CDs) and Commercial Papers (CPs)
69. Although there is a large CD and CP market, there is currently little transparency in the secondary market trades. In order to promote transparency in the secondary market transactions for CDs and CPs, it is proposed:
- to introduce a reporting platform for all secondary market transactions in CDs and CPs.
CAclubindia
Guest
Notification No : IDMD.DOD. 11 /11.08.36/2009-10Published in Community & General