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FIMMDA Reporting Platform for Corporate Bond Transactions

The High Level Expert Committee on Corporate Bonds and Securitisation (Patil Committee) had recommended setting up of reporting platforms for corporate bonds with a view to enhance transparency and to further the development of corporate bond markets. Accordingly, BSE and NSE have set up reporting platforms.

2. Now SEBI has permitted Fixed Income Money Market and Derivatives Association of India (FIMMDA) to set up its reporting platform for corporate bonds. It has also been mandated to aggregate the trades reported on its platform as well as those reported on BSE and NSE with appropriate value addition. FIMMDA has proposed to go live with its platform, which at present is under trial run, from September 1, 2007.

3. All Commercial Banks, NBFCs and select AIFIs would be required to report their secondary market transactions in corporate bonds in OTC market, on FIMMDA's reporting platform with effect from September 1, 2007. Detailed operational guidelines in this regard would be issued by FIMMDA.

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