Banking News

Trade Repository under PSS Act for OTC interest and Forex Contract

The Clearing Corporation of India Limited (CCIL) is now designated as ‘Trade Repository’ for the OTC interest rate and Foreign Exchange Contract.  The  designated trade repository will  be regulated and supervised under section 34(2) of Payment and Settlement Systems Act, 2007 (PSS Act).  Being a Financial Market Infrastructure (FMI), the repository would function under “Regulation and Supervision of Financial Market Infrastructures” regulated by RBI.

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