India’s CCIL set to become currency options trade repository
The Clearing Corporation of India is already well ahead of rivals in Asia when it comes to receiving OTC interest rate derivatives data. It now looks set to become the country’s trade repository for non-rupee currency derivatives, as the clearer moves to meet India’s G-20 trade repository commitments
The Clearing Corporation of India (CCIL), the government securities and forex clearing house owned by banks and dealers, has received in-principle approval from India's central bank to expand its existing trade repository function covering interest rate swaps to include currency options.
Siddhartha Roy, chief risk officer at Mumbai-based CCIL, tells Asia Risk that once permitted officially by the Reserve Bank of India (RBI), CCIL will start receiving trade information from non-rupee currency
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