India Is Said to Plan New Platform for Bond Derivative Trades

India is planning an electronic platform for trading bond forwards, according to people familiar with the matter, in a bid to improve price discovery in a market that operates largely over the counter.

The Clearing Corp. of India Ltd. has been working with lenders on a proposed design and is preparing to submit the plan to the central bank for approval, the people said, asking not to be named as the discussions are private.