Financial Sector Assessment Program Update : India - CPSS-IOSCO Recommendations for Securities Settlement Systems and Central Counterparties

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.

Bibliographic Details

Main Authors:	International Monetary Fund, World Bank
Language:	English en_US
Published:	World Bank, Washington, DC 2013-08
Subjects:	ACCOUNTING, AGRICULTURAL COMMODITIES, ANONYMOUS ORDER MATCHING, AUCTION, AUCTIONS, AUDIT COMMITTEE, BANK ACCOUNTS, BANKING PRACTICE, BOOK ENTRY, BORROWER, CAPITAL MARKET, CAPITAL MARKETS, CASH FLOWS, CASH MARKET, CASH SETTLEMENT, CENTRAL BANK, CENTRAL BANKS, CENTRAL DEPOSITORY, CENTRAL SECURITIES DEPOSITORIES, CENTRAL SECURITIES DEPOSITORY, CLEARING CORPORATION, CLEARING CORPORATIONS, CLEARING HOUSE, CLEARING HOUSES, COLLATERAL REQUIREMENTS, COLLATERALS, COLLECTIVE INVESTMENT, COMMERCIAL BANK, COMMERCIAL BANKS, COMMODITY, CONSUMER PROTECTION, CORPORATE BOND, CORPORATE BOND MARKET, CORPORATE BONDS, CORPORATE DEBT, CORPORATE DEBT SECURITIES, CORPORATE INVESTORS, CORPORATE SECURITIES, CREDIT ARRANGEMENT, CREDIT DEFAULT, CREDIT DEFAULT SWAPS, CREDIT LINES, CREDIT RATING, CREDIT RISK, CREDITORS, CURRENCY, CUSTODY, DEPOSIT, DEPOSITORY SERVICES, DERIVATIVE, DERIVATIVE MARKET, DERIVATIVE MARKETS, DERIVATIVE PRODUCTS, DERIVATIVE TRANSACTIONS, DERIVATIVES, DERIVATIVES EXCHANGE, DERIVATIVES EXCHANGES, DERIVATIVES MARKET, DERIVATIVES MARKETS, DEVELOPMENT BANK, ENABLING ENVIRONMENT, ENFORCEABILITY, EQUITIES, EQUITY DERIVATIVES, EXCHANGE BANK, EXCHANGE BOARD, FINANCIAL DERIVATIVES, FINANCIAL INFRASTRUCTURE, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL MARKET, FINANCIAL NETWORK, FINANCIAL SECTOR, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL STABILITY, FIXED INCOME, FOREIGN BANK, FOREIGN EXCHANGE, FOREIGN EXCHANGE TRANSACTIONS, FOREIGN EXCHANGES, FUND MANAGERS, FUTURES, FUTURES CONTRACTS, GOVERNMENT BOND, GOVERNMENT BOND MARKET, GOVERNMENT BONDS, GOVERNMENT SECURITIES, GOVERNMENT SECURITIES MARKET, GROSS DOMESTIC PRODUCT, GUARANTEE FUND, HOLDING, HOLDINGS, HOUSING FINANCE, HYPOTHECATION, INFORMATION SHARING, INFORMATION TECHNOLOGY, INSTITUTIONAL INVESTORS, INSURANCE, INSURANCE COMPANIES, INSURANCE CORPORATION, INTEREST RATE, INTEREST RATE DERIVATIVE, INTEREST RATE FUTURES, INTEREST RATE SWAPS, INTERNATIONAL BANK, INTERNATIONAL SECURITIES, INTERNATIONAL STANDARDS, INVESTMENTS IN GOVERNMENT SECURITIES, INVESTOR AWARENESS, LEGAL AGREEMENT, LEGAL FRAMEWORK, LEGAL FRAMEWORKS, LENDER, LENDER OF LAST RESORT, LIABILITY, LIFE INSURANCE, LINES OF CREDIT, LIQUIDITY, LIQUIDITY RISK, LOAN, MARGIN REQUIREMENTS, MARK TO MARKET, MARKET CAPITALIZATION, MARKET INFRASTRUCTURE, MARKET INFRASTRUCTURES, MARKET PARTICIPANTS, MARKET PLAYERS, MARKET REGULATORS, MARKET TRADES, MATURITIES, MONETARY FUND, MONETARY POLICY, MONEY MARKET, MONEY MARKET INSTRUMENT, MONEY MARKET INSTRUMENTS, MONEY SETTLEMENTS, MUTUAL FUND, MUTUAL FUNDS, NATIONAL STOCK EXCHANGE, NATIONAL STOCK EXCHANGES, NO-OBJECTION CERTIFICATE, ORDER MATCHING SYSTEM, ORDER MATCHING SYSTEMS, OWNERSHIP STRUCTURE, PAYMENT OBLIGATIONS, PAYMENT SYSTEM, PAYMENT SYSTEMS, PAYMENTS SYSTEM, PENSION, PENSION FUND, PENSION FUNDS, PLEDGES, PORTFOLIO, PRIMARY DEALER, PRIMARY DEALERS, PRIVATE SECTOR DEVELOPMENT, PUBLIC DEBT, PUBLIC DEBT MANAGEMENT, REAL TIME GROSS SETTLEMENT, REGIONAL EXCHANGES, REGULATOR, REGULATORY FRAMEWORK, REPAYMENT, REPO, REPO AGREEMENT, REPO MARKET, REPO TRANSACTIONS, REPOS, RESERVE, RESERVE BANK, RETAIL INVESTORS, RISK CONTROLS, RISK MANAGEMENT, RISK MANAGEMENT SYSTEM, RISK PROFILE, ROLLING SETTLEMENT, SECONDARY MARKET, SECONDARY MARKET TRANSACTIONS, SECURITIES, SECURITIES AS COLLATERAL, SECURITIES EXCHANGE, SECURITIES LAW, SECURITIES MARKET, SECURITIES MARKETS, SECURITIES REGULATION, SECURITIES REGULATIONS, SECURITIES TRANSACTIONS, SETTLEMENT, SETTLEMENT ARRANGEMENTS, SETTLEMENT RISK, SETTLEMENT SERVICES, SETTLEMENT SYSTEM, SETTLEMENT SYSTEMS, SHAREHOLDERS, STATE BANK, STATUTORY LAWS, STOCK BROKERS, STOCK EXCHANGE, STOCK EXCHANGES, STOCK OPTIONS, STOCKS, TAX, TRADE DATE, TRADING, TRADING PLATFORM, TRADING SYSTEM, TRANSACTION, TRANSPARENCY, TREASURY, TREASURY BILLS, TURNOVER, WARRANTS,
Online Access:	http://documents.worldbank.org/curated/en/2013/08/18185905/india-cpss-iosco-recommendations-securities-settlement-systems-central-counterparties-detailed-assessment https://hdl.handle.net/10986/15958
Tags:	Add Tag No Tags, Be the first to tag this record!