RBI's Annual Monetary Policy Statement for the Year 2012-13 -17th April 2012
II. Financial Markets
Working Group on G-Sec and Interest Rate Derivatives Market
65. As announced in the Second Quarter Review (SQR) of October 2011, a Working Group (Chairman: Shri R. Gandhi) was constituted to examine ways to enhance liquidity in the G-Sec and interest rate derivatives markets. The Working Group is in the process of finalising its draft report, which will be placed on the Reserve Bankís website by end-May 2012 for wider feedback. Based on the feedback/comments received from market participants, the Group will finalise its report.
Introduction of a Web-based System for Access to NDS-Auction and NDS-OM
66. To facilitate direct participation of retail and mid-segment investors in G-Sec auctions, the Reserve Bank has allowed web-based access to negotiated dealing system (NDS)-auction system developed by the Clearing Corporation of India Ltd. (CCIL). The system allows gilt account holders to directly place their bids in the auction system through a primary memberís portal, as against the earlier practice wherein the primary member used to combine bids of all constituents and bid in the market on their behalf. A similar web-based access to NDS-order matching (OM) system for secondary market transaction is under development and is expected to be implemented by end-June 2012.
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