MCCIL Becomes First Clearing Corporation in India to be Recognised as a Third-Country CCP by Bank of England

MCCIL Becomes First Clearing Corporation in India to be Recognised as a Third-Country CCP by Bank of England

• Metropolitan Clearing Corporation of India Ltd (MCCIL) has become the first SEBI recognised clearing corporation in India to get recognition as a Third-Country Central Counterparty (TC-CCP) by Bank of England.

• MCCIL is an arm of Metropolitan Stock Exchange of India.

• The recognition granted by the Bank of England will enable MCCIL to offer clearing services to UK-based entities after Britain’s exit from the European Union. That is when BREXIT comes into effect.

 

Points to remember:

1. Full form of TC-CCP?
2. Which stock exchange became first in India to be recognised as TC-CCP by BoE?
3. There are currently seven clearing houses recognized by SEBI. Click Here for the list of stock exchanges