Sebi grants ‘qualifying central counterparty’ status to MCX Clearing Corporation

Mumbai: The Securities and Exchange Board of India (Sebi) on Tuesday granted Multi Commodity Exchange Clearing Corporation (MCXCCL) qualifying central counterparty (QCCP) status.

The QCCP status is in view of the fact that it is regulated by Sebi under SEBI Act, 1992, Securities Contract (Regulation) Act, 1956 (SCRA) and Rules and Regulations made there under, the regulator said.

It is also subjected on an on-going basis, to rules and regulations that are consistent with the principles for financial market infrastructures (PFMIs) issued by the committee on payment and settlement systems (CPSS) and International Organization of Securities Commissions (IOSCO).

MCXCCL is functioning as clearing corporations to undertake the activity of clearing and settlement of trades in securities or other Read More – Source

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