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Mumbai, July 11: After a long debate, the Reserve Bank of India (RBI) has finally decided to introduce an electronic order matching trading platform for government securities on the Negotiated Dealing System (NDS).
The on-line system, for which the central bank has issued a notification on Monday to the banks, is an endeavour to move towards a more sophisticated system of trading and settlement in the government securities market.
This will be in addition to the present facility of reporting and settlement on NDS. The NDS-Order Matching (NDS-OM) segment will be formally launched on August 1, 2005.
The Clearing Corporation of India Ltd, on behalf of RBI, will be organising a product demonstration of the upgraded NDS-OM system during July 12-14,2005. Also, mock trading sessions will be held for the bond market participants from July 18 to July 23.
The anonymous order-matching platform for trading in government securities, which has been introduced with a view to encourage more retail participation, will be catering to the trading requirements of all current NDS members (SGL account holders) as well as constituents of SGL account holders.
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