Publication: Financial Sector Assessment Program Update : India - CPSS-IOSCO Recommendations for Securities Settlement Systems and Central Counterparties
Date
2013-08
ISSN
Published
2013-08
Author(s)
International Monetary Fund
World Bank
Abstract
The securities and derivatives clearing
and settlement systems in India are organized around
different types of products, which are (1) government
securities, money market instruments and forex instruments;
(2) corporate securities and financial derivatives; and (3)
commodity derivatives. The scope of this assessment is
limited to the clearing and settlement systems for the first
two sets of products. The different sets are subject to
different legal frameworks, different regulatory
arrangements and the clearing and settlement systems are
operated by different entities. The different securities and
derivatives clearing and settlement systems handle a large
number of transactions and are as such of systemic
importance. Volumes in the derivatives segments increased
strongly during the last years. Given the growth and volumes
of the commodity derivatives market it is recommended that a
detailed self-assessment by the Forwards Market Commission
(FMC) and/or an independent assessment of the commodity
derivatives clearing and settlement systems be considered in
the immediate future.
Citation
“International Monetary Fund; World Bank. 2013. Financial Sector Assessment Program Update : India - CPSS-IOSCO Recommendations for Securities Settlement Systems and Central Counterparties. Financial Sector Assessment Program (FSAP);. © World Bank, Washington, DC. http://hdl.handle.net/10986/15958 License: CC BY 3.0 IGO.”