April 28, 2016

All RBI regulated entities

Madam/Sir,

F-TRAC – Counterparty Confirmation

A reference is invited to RBI circular FMRD.FMID.01/14.01.02/2014-15 dated December 19, 2014 waiving the requirement of exchange of physical confirmation of trades matched on the Financial Market Trade Reporting and Confirmation Platform (“F- TRAC”) of the Clearcorp Dealing Systems (India) Ltd. subject to certain conditions.

2. On a review based on the requests received from the market participants, it has been decided to allow entities reporting trades on F-TRAC to enter into multilateral agreement drafted by the Fixed Income Money Market and Derivatives Association (“FIMMDA”) for waiving physical exchange of confirmation for the deals in Commercial Papers (CPs), Certificates of Deposit (CDs), Non-Convertible Debentures (NCDs) of original maturity up to one year and repo trades in corporate debt securities, CPs and CDs.

3. The list of entities, which have signed the multilateral agreement, will be published by FIMMDA and the Clearing Corporation of India Limited (CCIL) on their websites.

4. All other conditions indicated in the circular ibid shall remain the same.

Yours faithfully

(R. Subramanian)
Chief General Manager