SEBI directs quick reporting of OTC deals in commercial paper, certificate of deposit
30 Jul 2010
The Securities and Exchange Board of India (SEBI) has asked all entities regulated by it to report their over-the-counter (OTC) transactions in certificates of deposit (CDs) and commercial papers (CPs) within 15 minutes of the trade for online dissemination of market information with effect from 16 August 2010.
The SEBI directive follows a Reserve Bank of India (RBI) request to the Fixed Income Money Market and Derivatives Association of India (FIMMDA) to set up a reporting platform to capture all OTC transactions in CDs and CPs.
The RBI has decided to introduce a reporting platform for all secondary market transactions in CDs and CPs.
FIMMDA will issue detailed operational guidelines in this regard, a SEBI release said.