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Published on 06/30/2026 at 08:56 am EDT
MUMBAI, June 30 (Reuters) – The European Securities and Markets Authority has approved recognition for India’s Clearing Corporation, according to a source directly familiar with the matter.
The approval ends a years-long standoff brought on by the ESMA seeking supervisory powers over the South Asian nation’s key bond clearing house.
Here are the key highlights:
o The Clearing Corporation of India Ltd (CCIL) will be recognised as a central counterparty under European Market Infrastructure Regulation (EMIR).
o This will allow CCIL to continue to remain under the supervision of the Reserve Bank of India.
o The approval is part of the memorandum of understanding signed between the ESMA and the RBI earlier this year.
o The approval was necessary before June 30 as capital adequacy requirement of European banks clearing via CCIL was set to rise without approval.
o A final approval for the recognition will be put in place once the EMIR Act is amended.
o CCIL and ESMA did not immediately respond to a request for comment.
(Reporting by Gopika Gopakumar; Editing by Shinjini Ganguli)
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