Derivatives close-out netting nears approval in India
Legislation expected early next year will clarify that local banks can use technique, say lawyers
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
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