A screen-based, negotiated, quote-driven system for dealings in the call/notice and term-money markets (NDS-CALL) has also been recently launched. Well functioning market for government securities is necessary, both for effective public debt management and monetary management, while serving the broader interest of development of financial markets in general, and debt markets, in particular.
Accordingly, a number of initiatives have been taken over the years to develop both the primary and secondary markets for Government securities.