EU takes steps to avoid India clearing house lockout

Other Asian regulators may also have concerns about extraterritorial reach of Emir 2.2

Reserve Bank of India

Indian regulators may be one step closer to resolving a dispute with the European Union over derivatives clearing house recognition, thanks to proposed amendments to a key piece of EU legislation.

The European Securities and Markets Authority withdrew recognition for six Indian central counterparties (CCPs) on October 31, 2022, citing the lack of a memorandum of understanding (MoU) with Indian regulators. But sources say a new draft of the European Market Infrastructure Regulation (Emir)

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