Currently Wholesale Debt Market (WDM) segment of the Exchange computes and disseminates the FIMMDA-NSE Mumbai Inter-bank Bid Rate (MIBID) and Mumbai Inter-bank Offer Rate (MIBOR) for the Overnight call rates at 0940 Hrs and 14 days, 1 month and 3 month Term rates at 1130Hrs from Monday to Saturday.
The Exchange in consultation with FIMMDA Board and Market Practices Committee proposes to introduce a 3-Day MIBOR on all Fridays, with effect from Friday 6th June 2008 in addition to existing overnight rate.
Further, if Friday is a holiday the 3 Day Mibid-Mibor fixing on Thursday will be for 4 days. Also, if Saturday is a holiday then the Overnight FIMMDA-NSE MIBID-MIBOR will not be disseminated on Friday.
Further w.e.f Saturday the Overnight FIMMDA-NSE MIBID-MIBOR will be polled and disseminated at 1030 Hrs instead of 0940 Hrs as it is done on week days, as the market is very thin on Saturday and market is expected to have better depth by 1030 Hrs. -- www.nseindia.com
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