Impasse to ease as ESMA, RBI renew agreement on Indian CCPs

The European Securities and Markets Authority (ESMA), the European Union's financial markets regulator, on Tuesday said it has entered into an agreement with the Reserve Bank of India (RBI) to exchange information for the recognition of Indian central counterparties (CCPs), more than three years after a standoff began over domestic clearing houses.

- Shayan Ghosh & Subhana Shaikh

“This agreement marks a significant step towards restoring access for EU clearing members to Indian central counterparties and follows two years of sustained engagement between ESMA and RBI,” ESMA said in a statement.