Question
FIMMDA is a voluntary market body for the bond, money,
and derivatives markets, with members representing all major institutional segments. What does FIMMDA stand for?Solution
FIMMDA stands for Fixed Income Money Market and Derivatives Association of India. • It is an association comprising Scheduled Commercial Banks, Public Financial Institutions, Primary Dealers, and Insurance Companies. • Incorporated on May 4, 1998 under Section 25 of the Companies Act, 1956, it serves as a voluntary market body. • Its primary role is to develop and regulate practices in the fixed income, bonds, money market, and derivatives market segments. • FIMMDA also issues guidelines, standardizes documentation, and provides a platform for discussion among key market participants.
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