TRs are Financial Market Infrastructures that maintain a centralised database of OTC derivatives transaction data. TRs therefore are in a position to provide information – both to the regulators as well as to the market. By doing so TRs enhance the transparency in OTC markets and promote financial stability.
Even prior to the onset of global financial crisis and the global initiatives, the Reserve Bank through regulatory mandate had tasked CCIL to collect and collate transaction level data for interest rate swaps.