There is no single location or exchange where debt market participants interact for common business.
Participants talk to each other, conclude deals, send confirmations etc.
In that sense, the wholesale debt market is a virtual market. The daily transaction volume of all the traded instruments would be about Rs5bn per day excluding call money and repos. In order to understand the entirety of the wholesale debt market we have looked at it through a framework based on its main elements. The market is best understood by understanding these elements and their mutual interaction. Instruments ie the instruments that are being traded in the debt market.