18 February 2003

UBD.BP.35/16.26.00/2002-03

The Chief Executive Officers of
All Primary (Urban) Co-operative Banks

Dear Sir,

You may be aware that the prices of all the trades done in Government Securities are available on a daily basis on RBI’s website (www.rbi.org.in) since January 1998. Recently, in order to add more transparency as also to facilitate wider access to data on Government securities market, on-line information on trades done in Government securities through Negotiated Dealing System has also been made available on our website. This can be viewed by clicking on the link Negotiated Dealing System in the home page of RBI (detailed Press Release is enclosed).

2. Besides, the daily list of Security, Amount, Price and YTM (%) of all the trades done and settled at RBI, Mumbai is available directly in the link SGL (at the right hand side) in the home page of our website or going through Financial Markets -> Debt Markets - Other Instruments – Secondary Market – Daily SGL Transactions in Government Dated Securities and Treasury Bills. The information is downloadable in PDF, MS WORD or MS EXCEL format. Past information on the same can also be obtained by clicking on the link ARCHIVE (in the same page) and then selecting the required date. The Archive has information on SGL trade data since January 1996. Primary (urban) co-operative banks can make use of the facility to study the price movements of Government securities in secondary market.

Yours faithfully,

(Sudarshan Sen)

Encl. : 1 sheet

The Reserve Bank of India (RBI) has decided to disseminate the data on trades in Government Securities and other data captured by the Negotiated Dealing System (NDS) through its website. The information could, from October 25, 2002 be accessed either from the home page of RBI’s main website (www.rbi.org.in) or through a special URL (www.nds.rbi.org.in). The move is for wider access of the data and transparency in the Government Securities market. The data on transactions in Government securities settled daily at PDO, Mumbai is already published on website and can be downloaded from website.

The NDS pages available to public on the website include :

• Trade Watch : The main page called Trade Watch displays data on ten latest trades concluded/reported on NDS after they are confirmed by both dealers. It provides hyperlinks to see trades in a particular security/instrument and also has a button for viewing all trades done during the day. Since the number of daily trades exceeds 1000, all trades can be viewed with the help of filters provided on the page. Filters operate on maturity of security and/or time of the day. For instance, all trades done between 10 am and 11 am in 7.26% 2013 security can be viewed at a time. The order of record display is decided by the time buyer confirms the trade.
• Market Watch : This page displays ten latest trades with details on items, such as, settlement type (T+0), day’s traded volume, previous day’s trade volume, day’s and week’s high/low yields, best bid/offer price from quotes. The page also has a button to view all trades.
• Quote Watch : This page displays the ten latest quotes in various securities available on the NDS. The quotes can be viewed for a particular security of Central Government/State Government. A Central Government security can be selected on the basis of its year of maturity, and a State Government security can be selected by selecting the State. An option to view all quotes is also available.
• Call & Repo : An option is also provided to view ten latest trades in call money and repo. This page can also be accessed from the trade watch page by clicking on instrument/security called call/repo.

Facilities : All the pages provide links to go directly from one page to another. They also provide facility to select and view trades in particular Government Securities or treasury bills and to view trades in call or repo. Facilities to plot charts on the basis of prices and yields and to print the pages have been also provided on all the pages.

Market participants are encouraged to send suggestions, if any, for further improvements in the pages to alpanakillawala@rbi.org.in or helpprd@rbi.org.in .