The six clearing corporations are The Clearing Corporation of India (CCIL), Indian Clearing Corporation, NSE Clearing, Multi Commodity Exchange Clearing, India International Clearing Corporation, and NSE IFSC Clearing Corporation.
The withdrawal of recognition came into effect on May 1.
ESMA had asked Indian regulators the Reserve Bank of India, the Securities and Exchange Board of India and the International Financial Services Centres Authority - to sign an agreement giving it supervisory powers over Indian clearing corporations servicing European banks. These clearing corporations were recognised as Third Country Central Counterparty (TC-CCP) in European Union.
However, Indian regulators are against giving such powers to a foreign entity since these corporations settle the country's entire cash and derivatives market in equities, bonds, and forex markets.
Diese Geschichte stammt aus der May 03, 2023-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der May 03, 2023-Ausgabe von Financial Express Mumbai.
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