ESMA Signs Memorandum of Understanding with Indian SEBI to Cooperate in Supervising Central Counterparties

Techub News reports that the European Securities and Markets Authority (ESMA) has signed a Memorandum of Understanding (MoU) with the Securities and Exchange Board of India (SEBI), aiming to promote cooperation and information exchange between the two parties in the recognition and supervision of Indian Central Counterparties (CCPs). This agreement is another important step following the MoU signed earlier this year between ESMA and the Reserve Bank of India (RBI), aimed at restoring EU clearing members' access to Indian CCPs. This move is the result of over two years of continuous engagement between the two parties. According to the agreement, CCPs established in India and regulated by SEBI will be able to reapply for recognition by ESMA under the European Market Infrastructure Regulation (EMIR). ESMA stated that it will continue discussions with the International Financial Services Centres Authority (IFSCA) with the aim of reaching a similar cooperation arrangement.