  Third, the Bank had promoted use of electronic trade platforms for improving market transparency and efficiency than that available through completely private bilateral negotiation.
The electronic trade platforms lower search costs by improving the ability of market participants to more quickly determine the range of prices at which they could potentially execute a trade, and to more quickly and easily identify a counterparty offering attractive terms. The NDS-OM, NDS-Call, CROMS are the landmark innovations in the space of OTC fixed income and money market.