RBI extends trade reporting time on NDS-OM platform to 1715 IST, dealers say
This story was originally published at 13:25 IST on 30 April 2025
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By Aaryan Khanna
--Dealers: RBI extends trade reporting time on NDS-OM platform to 1715 IST
--Dealers: Extension in gilt deal reporting time to 1715 IST effective Wed
--CONTEXT: Over-the-counter gilt deals had to be reported until 1700 IST
--Dealers: Gilt mkt trading hours on NDS-OM platform unch at 0900-1700 IST
--Dealers: Can report over-the-counter gilt deals to CCIL after mkt close
NEW DELHI – The Reserve Bank of India Wednesday extended the time to report over-the-counter government bond deals on the bond trading platform to 1715 IST, effective the same day. The change was notified on the Negotiated Dealing System – Order Matching platform early in the day, according to three dealers.
Clearing Corp. of India Ltd. hosts the RBI's bond trading platform and acts as a central counterparty for deals struck on it. Over-the-counter gilt deals conducted bilaterally or multilaterally have to be reported on the platform within 15 minutes of being struck. These deals can now be reported even after the gilt market closes, with the trading time remaining unchanged at 0900-1700 IST, dealers said.
"If you strike a deal at 1655 IST, you were stuck just reporting that immediately. This provides participants more operational flexibility to report after trading closes," one of the dealers said.
The move comes at a time when the RBI has set up a working group, heading by Executive Director Radha Shyam Ratho, to comprehensively review the trading and settlement timings of financial markets regulated by the central bank. The group is scheduled to submit its report Wednesday. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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