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| Sebi asks market players to report transactions in CP, CD |
| Press Trust of India / Mumbai Jul 30, 2010, 20:16 IST |
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Market regulator the Securities and Exchanges Board of India (Sebi) today asked stock brokers, FIIs, asset management companies to report all over-the-counter transactions made by them in commercial papers (CP) and deposit certificates (CD) from August 16 to make these transactions more transparent.
The regulator took a decision, after it was decided to introduce a platform for all secondary market transactions in CP and CD.
As such, the market players have to report their transactions in CP and CD on a platform of Fixed Income Money Market and Derivatives Association of India (FIMMDA).
"It has now been decided that all Sebi Regulated entities shall report their over-the-counter (OTC) transactions in certificate of deposit (CDs) and commercial paper (CPs) on the FIMMDA reporting platform within 15 minutes of the trade for online dissemination of market information with effect from August 16, 2010," the Sebi said in a circular.
Detailed guidelines on the matter will be issued by FIMMDA, it added.
"This circular is issued...To protect the interests of investors in securities and to promote the development of, and to regulate the securities market," it said.
The Reserve Bank had earlier asked FIMMDA to set up a reporting platform to include all OTC transactions in CD and CP.
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