Banks, Primary Dealers and Financial Institutions
having Subsidiary General Ledger and Current Accounts with RBI will be
eligible to become members of the system.
The system will facilitate submission of
bids/applications for auctions/ floatations of government securities
through pooled terminal facility located at regional offices of Public
Debt Office (PDO) across the country and through ‘member-terminals.
The system can be used for daily Repo and Reverse
Repo auctions under Liquidity Adjustment Facility (LAF).
It will provide an electronic dealing platform for
primary and secondary market participants in government securities and
also facilitate reporting of trades executed through exchanges for
information dissemination and settlement in addition to deals done
through the system.
Government dated securities, Treasury Bills,
Repurchase Agreements (Repos), Call/Notice/Term Money, Commercial Paper,
Certificates of Deposit, Forward Rate Agreements/Interest Rate Swaps,
etc., will be the eligible instruments.
NDS will be integrated with Securities Settlement
System (SSS) of PDO of RBI to facilitate settlement of deals done in
government securities and treasury bills.
It will facilitate dissemination of information
relating to primary issuance through auction/sale on tap and
underwriting apart from secondary market trade details to participants.