The European Securities and Markets Authority has signed a Memorandum of Understanding with the Reserve Bank of India to facilitate supervisory cooperation and information exchange for the recognition of central counterparties established in India and supervised by RBI. The arrangement is positioned as a step towards restoring access for EU clearing members to Indian CCPs and follows two years of engagement between ESMA and RBI. Under Article 25 of the European Market Infrastructure Regulation (EMIR), the MoU is a prerequisite for ESMA to recognise third-country CCPs and enables the Clearing Corporation of India Ltd (CCIL) to re-apply for EMIR recognition. ESMA is continuing discussions with the Securities and Exchange Board of India and the International Financial Services Centres Authority to conclude similar cooperation arrangements.
European Securities and Markets Authority 2026-01-27
European Securities and Markets Authority signs MoU with the Reserve Bank of India to support EMIR recognition of Indian CCPs
The European Securities and Markets Authority (ESMA) signed a Memorandum of Understanding with the Reserve Bank of India to enhance supervisory cooperation and information exchange for recognizing Indian central counterparties. This agreement, under Article 25 of the European Market Infrastructure Regulation, is crucial for restoring EU clearing members' access to Indian CCPs and allows the Clearing Corporation of India Ltd to reapply for EMIR recognition.