Publication: Financial Sector Assessment Program Update : India - CPSS-IOSCO Recommendations for Securities Settlement Systems and Central Counterparties
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2013-08
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2013-08
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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.
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“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. http://hdl.handle.net/10986/15958 License: CC BY 3.0 IGO.”
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Publication India : CPSS-IOSCO Recommendations for Securities Settlement Systems and Central Counterparties(World Bank, Washington, DC, 2013-08)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. 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This report provides introduction; methodology and information used for the assessment; overview of the payment, clearing, and settlement landscape; and key findings follow up for the BOK-wire+; key findings and follow-up for the KRX-CCP; key findings and follow up for authorities; recommendations for the BOK-wire+; recommendations for the KRX-CCP; and recommendations for authorities.Publication Debt Management Performance Assessment : Armenia(World Bank, Washington, DC, 2013-11)The World Bank mission team comprised of Memes/ Messrs. Lilia Razlog (mission lead, PRMED, WB), Antonio Velandia (FABDM) and Ying Li (Consultant, WB), joined by Juan Carlos Vilanova, Debt Relief International (DRI), who conducted a Government Debt Management performance Assessment (DeMPA) evaluation for Republic of Armenia. At the request of the authorities, the mission took place from October 29 to November 8, 2013. 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