Third, it is well established that the short-term monetary interest rate is the instrument of monetary policy and not any quantitative monetary variable. In addition, the strategy of using intermediate targets for monetary policy has been abandoned and the instrument is related with the final targets as Benjamin Friedman (1990) 6 recommended many years ago as a more efficient use of information.
Recent initiatives: (1)  The PDO/NDS/SSS project, comprising inter alia the Negotiated Dealing System (NDS) is an initiative, which provides for an electronic platform for facilitating trading in Government Securities and Money Market Instruments. The System has been operational for over a year now and the manner in which you have used the System is laudable.