Derivatives close-out netting nears approval in India

india-rupee-note — The Reserve Bank of India has expressed disapproval of close-out netting in the past

Frances Ivens
19 Dec 2017

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Indian banks are moving closer to being able to apply close-out netting, with the country set to pass legislation early next year clarifying that they can apply the technique to their derivatives trades.

“To my mind, this legislation will dispel all possible [netting] ambiguities. I see no further significant issues for close-out netting in India,” says Siddhartha Roy, a clearing and treasury risk consultant and former chief risk officer at the Clearing Corporation of India.

The draft

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