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Our Bureau

Mumbai, May 28

Provident funds, pension funds, mutual funds, certain non-banking finance companies, insurance companies, cooperative banks, regional rural banks and trusts (which could invest in government securities) can now place orders on NDS-Order Matching system (NDS-OM) through banks and primary dealers using Constituent Subsidiary General Ledger (CSGL) route. To widen the reach of NDS-OM, access is now extended to "qualified entities" maintaining gilt accounts with NDS members such as banks and primary dealers, said an RBI notification. Such trades will settle through the CSGL account and current account of the NDS-OM member, the notification added. The NDS-OM was launched in August 2005. Initially banks and primary dealers were given access to the same and later to other NDS members, insurance companies, mutual funds and bigger provident funds for their proprietary deals.

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