India Financial Sector Assessment Program : Detailed Assessment of Observance of Clearing Corporation of India Limited Central Counterparty and Trade Repository
The present document is the assessmentof two Financial Market Infrastructures (FMI) operated bythe Clearing Corporation of India (CCIL) in India – theCentral Counter Party (CCP) and Trade Repository (TR); andthe responsibilities of the authorities - against theCommittee on Payments and Market Infrastructures (CPMI) andInternational Organization of Securities Commissions (IOSCO)Principles for Financial Market Infrastructures (PFMIs). Theassessment was conducted through a country visit in thecontext of the India Financial Sector Assessment Program(FSAP) in March 2017. The information used in the assessmentincludes relevant laws, bye-laws, regulations, rules andprocedures governing the systems, and other availablematerial. In addition, extensive discussions were held withthe Reserve Bank of India (RBI), the Securities and ExchangeBoard of India (SEBI), CCIL and its participants. Thereports produced as part of the CPMI-IOSCO Level 1 and Level2 implementation monitoring exercises were used for theassessment of the responsibilities of the authorities. Thisassessment uses the methodology presented in the CPMI-IOSCOpublication – Principles for financial marketinfrastructures: Disclosure Framework and AssessmentMethodology (December, 2012).