 "RBI allows matching of PM-GAH transactions on NDS-OM, CCIL settlement")
Transactions between a Primary Member (PM) and its own Gilt Account Holder (GAH) or between two GAHs of the same PM can now be matched on both the anonymous Order Matching (NDS-OM) segment and the Request for Quote (RFQ) segment of NDS-OM, with such transactions being cleared and settled through the Clearing Corporation of India Limited (CCIL), the Reserve Bank of India (RBI) said in a notification on Monday.
Additionally, the facility of clearing and settlement through CCIL is extended, on an optional basis, to bilaterally negotiated transactions between a PM and its own GAH, or between two GAHs of the same PM, provided they are reported to NDS-OM.
"On a review and based on the feedback received, it has been decided to permit matching of transactions between a PM and its own GAH or between two GAHs of the same PM on both the anonymous Order Matching segment and the Request for Quote (RFQ) segment of NDS-OM. Transactions matched on NDS-OM shall be cleared and settled through CCIL," said the notification.
"Extend the facility of clearing and settlement through CCIL to transactions between a PM and its own GAH or between two GAHs of the same PM which are bilaterally negotiated and reported to NDS-OM, on an optional basis," it added.
Currently, transactions between a PM and its own GAH or between two GAHs of the same PM are not permitted to be matched on NDS-OM and are not cleared or settled through CCIL.
Detailed operational guidelines on this matter will be issued by CCIL.
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