SEBI Committee on Clearing Corporations: Ownership and Economic Framework
| Aspect | Details |
|---|---|
| Committee Establishment | SEBI has formed a committee to review and propose enhancements to the ownership and economic framework of clearing corporations. |
| Committee Chairperson | Usha Thorat, former Deputy Governor of the RBI. |
| Objectives | - Evaluate feasibility of expanding eligible investors in clearing corporations. - Suggest categories of stakeholders permitted to hold stakes. - Adjust shareholding caps for various entities. |
| Ownership Patterns | Recommend ownership patterns conducive to interoperability, drawing from global models. Propose alternatives considering capital requirements for settlement guarantee funds and liquidity during market stress. |
| Financial Independence | Craft financial structures to ensure autonomy and resilience of clearing corporations. Explore strategies for financial independence while meeting stakeholders' expectations and sustaining operational robustness. |
| Dominance Concerns | Address dependence of clearing corporations on parent exchanges. Deliberate on mitigating this dependence, considering financial integration within parent exchange statements. |
| Sustainability | Strategize on maintaining viability of clearing corporations amidst market fluctuations. Optimize financial structures for sustainability and operational continuity. |