Tuesday October 10 2017
News Source: Global Exchanges
Focus: Other
Type: General
Country: India
Link: http://www.icclindia.com/downloads/Mediarelease_ICCL_Recognised_by_ESMA_as_a_Third_Country_CCP.pdf
On the 4th of October 2017, the Indian Clearing Corporation Limited (“ICCL”), was granted recognition as a Third-Country CCP by ESMA in accordance with the European Market Infrastructure Regulation. This development grants the ICCL further distinction after it had been granted recognition by the Securities and Exchange Board of India (“SEBI”) for a period of three years.
The decision to award the ICCL Third-Country CCP status means the European Commission acknowledges that India has an equivalent regulatory regime to central counterparties to the European Union.
The ICCL is the clearing arm of the Bombay Stock Exchange and this development will bring confidence to European Investors considering investing on the Exchange.
For additional information please click the link above