Monday November 4 2024
News Source: Global Exchanges
Focus: Clearing & Settlement
Type: General
Country: India
On 28th October 2024, the Reserve Bank of India (RBI) published the directions relating to capital requirements and governance framework for CCPs as also providing a framework for recognition of foreign CCPs.
The Direction for Central Counterparties dated June 12, 2019, stands repealed.
The provisions of these directions shall apply to a domestic central counterparty authorised to operate in India under Payment and Settlement Systems Act, 2007 (Act 51 of 2007) and foreign CCPs recognised by the Reserve Bank of India (RBI) under Payment and Settlement Systems Act, 2007 for their operations including clearing and settlement in India.
The following are prescribed directions,
- Directions on Governance for domestic CCPs authorised to operate in India by the RBI
- Directions on Net worth requirements and Ownership of CCPs
- Directions for Recognised Foreign CCPs
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