Home › Circulars › RBI/2009-10/515

OTC CD and CP Trade Reporting on FIMMDA Platform

Current · Source: Reserve Bank of India · RBI/2009-10/515 · issued 30 Jun 2010 · ~2 min read

Quick answerFrom July 1, 2010, all RBI-regulated entities must report OTC secondary market transactions in CDs and CPs on the FIMMDA reporting platform within 15 minutes of trade execution for online dissemination.

The rule, in the simplest words

From July 1 2010, every bank or RBI‑regulated firm (Reserve Bank of India‑regulated) that trades a CD (certificate of deposit) or CP (commercial paper) must report the trade to FIMMDA (Fixed Income Money Market and Derivatives Association).
The trade must be reported within 15 minutes after it happens.
The report is posted on FIMMDA’s online system so the whole market can see the price and amount.
If the report is late or missing, the RBI may check the firm and could take action.
Firms need to set up their computer systems, get access from FIMMDA, and train staff to meet the 15‑minute rule.

How it plays out — a real example

Rohit Sharma, a treasury officer at Bank of Baroda in Mumbai, receives a request to sell a CD. He records the trade in the bank’s system and, well within the 15‑minute window, uploads the details to the FIMMDA platform, ensuring the market gets the information on time.

What changed

RBI mandated reporting of all OTC secondary market transactions in Certificates of Deposit and Commercial Papers on the FIMMDA platform, effective July 1, 2010. This follows the Annual Policy Statement 2010-11 announcement and FIMMDA's readiness to extend its corporate bond reporting platform to these instruments.

What it means for you

Banks and other regulated entities now have a strict 15-minute window to report CD and CP trades, enhancing market transparency and price discovery. Non-compliance could attract regulatory scrutiny, so trade capture and reporting systems must be aligned with FIMMDA's procedures.

What you must do

Ensure your trade reporting systems can capture OTC CD and CP transactions and submit them to the FIMMDA platform within 15 minutes of execution.
Coordinate with FIMMDA to obtain detailed reporting procedures and technical access for your dealing room or treasury team.
Train relevant staff on the new reporting timeline and data fields required for online dissemination.
Review internal controls to avoid delays or errors in reporting, as this is a regulatory mandate effective July 1, 2010.

Who it affects

All RBI-regulated entities dealing in CDs and CPs, Treasury and dealing room operations of banks, Primary dealers and other financial institutions trading in money market instruments

❓ Common questions

Regulatory timeline

Stated effective date effective July 1, 2010
Decoded by BankPulse 2026-06-19 05:52 IST

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

What is the deadline for reporting OTC CD and CP trades?

All OTC transactions in CDs and CPs must be reported on the FIMMDA platform within 15 minutes of the trade execution.

Which platform should we use for reporting?

The FIMMDA reporting platform, which already handles corporate bond reporting, has been extended to cover CDs and CPs. FIMMDA will provide detailed procedures.

Does this apply to all secondary market transactions?

Yes, the mandate covers all secondary market OTC transactions in Certificates of Deposit and Commercial Papers, effective July 1, 2010.

📜 Read the original circular — full text as issued by RBI

RBI/2009-10/515
 IDMD.DOD. 11 /11.08.36/2009-10
 June 30, 2010
 To All RBI Regulated Entities
 Dear Sir, 
 Reporting of OTC transactions in Certificates of Deposit (CDs) and 
 Commercial Papers (CPs) 
 Please refer to Paragraph 69 of the Annual Policy Statement of 2010-11 announcing the decision to introduce a reporting platform for all secondary market transactions in CDs and CPs. In this regard, FIMMDA was requested by the Reserve Bank of India to setup a reporting platform to capture all OTC transactions in CDs and CPs. FIMMDA has now informed its readiness to operationalize the reporting of transactions in CDs and CPs as part of its existing reporting platform for the corporate bonds.
 2. Accordingly, beginning July 01, 2010, all RBI-regulated entities shall report their OTC transactions in CDs and CPs on the FIMMDA reporting platform within 15 minutes of the trade for online dissemination of market information. Detailed procedure in this regard would be advised by FIMMDA.
 Yours faithfully,
 ( K K Vohra )
 Chief General Manager

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2009-10/515 · issued 30 Jun 2010. The plain-English explanation above is BankPulse’s own independent summary.

🧰 Tools — save, print, templates & related

🛠 Banker’s toolkit — checklists & reply templates →

Related circulars · Internal Debt Management

RBI Auction of State Government Securities RBI Buyback of Government Securities: ₹20,000 Crore Auction RBI Buyback Auction Results for Government Securities RBI Buyback Auction Results for Government Securities State Govt Securities Auction Results – July 28, 2026

Browse all departments →

Who does what — compliance checklist

💻 IT / Systems

Ensure your trade reporting systems can capture OTC CD and CP transactions and submit them to the FIMMDA platform within 15 minutes of execution.

📜 Compliance

Coordinate with FIMMDA to obtain detailed reporting procedures and technical access for your dealing room or treasury team.
Train relevant staff on the new reporting timeline and data fields required for online dissemination.
Review internal controls to avoid delays or errors in reporting, as this is a regulatory mandate effective July 1, 2010.

Grouped from the action items above — a single circular may involve more than one team.

Worked example & action-note template

Example: if you are an IT/Systems lead at a bank this circular applies to (All RBI-regulated entities dealing in CDs and CPs, Treasury and dealing room operations of banks, Primary dealers and other financial institutions trading in money market instruments), your first concrete step on “OTC CD and CP Trade Reporting on FIMMDA Platform” is: “Ensure your trade reporting systems can capture OTC CD and CP transactions and submit them to the FIMMDA platform within 15 minutes of execution.” (RBI issued this 30 Jun 2010).

Circular: RBI/2009-10/515 -- OTC CD and CP Trade Reporting on FIMMDA Platform
Issued: 30 Jun 2010
Action required: Ensure your trade reporting systems can capture OTC CD and CP transactions and submit them to the FIMMDA platform within 15 minutes of execution.
Action required: Coordinate with FIMMDA to obtain detailed reporting procedures and technical access for your dealing room or treasury team.
Action required: Train relevant staff on the new reporting timeline and data fields required for online dissemination.
Action required: Review internal controls to avoid delays or errors in reporting, as this is a regulatory mandate effective July 1, 2010.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________

Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

💬 Banker Discussion

Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.

Loading comments…

BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=5753&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.