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Negotiated Dealing System – Order Matching (NDS-OM)

The NDS-OM platform facilitates anonymous electronic order matching for the transactions in the government securities market. Owned by the Reserve Bank of India and managed by the Company, this electronic platform launched on August 1, 2005, has enabled the regulator to launch features like covered short sales, when issued trading in the government securities market. Initially limited to banks and primary dealers, trading on this platform was gradually extended to other NDS members like insurance companies, mutual funds and non-NDS members like provident funds, port trusts etc and even individual investors.

Following are the features currently available on the NDS-OM platform:

  • All OTC outright deals in government securities have to be reported on the NDS-OM platform.

  • Covered short sales and when issued trading enabled on the platform.

  • Standard/Odd Market Lot trading is facilitated.

  • Security wise limit monitoring for FPI trades in the government securities market is enabled on the NDS-OM platform. Further, T+2 reporting of these trades is also facilitated on this platform.

  • Gilt Account Holders can trade on the NDS-OM system through the web-based NDS-OM module to enable them to trade in secondary market of government securities. Primary members can also input client orders.

  • Retail investors holding Demat Account with Primary Members of NDS-OM can also trade on the NDS-OM platform.

  • The Request for Quote (RFQ) module for dealing in illiquid securities is also enabled on this platform.

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