INDIA

Securities / Derivatives

SEBI Blocks Cash Payments To Stock Brokers

By Garima Chitkara | 16/07/2018

Stock brokers are no longer allowed cash payments either directly or deposited into their bank accounts, as India aims to promote digital payments and a cashless economy.

Market Infrastructure

India Proposes to Relax Payments Data Onshoring Rules

By Emma Zhou | 16/07/2018

New proposal would allow international payments firms to store data offshore while only maintaining a copy in India, following lobbying effort by MasterCard, Visa and American Express.

Market Infrastructure

SEBI Amends Stress Testing Methodology for Commodity Derivatives

By Garima Chitkara | 12/07/2018

Minimum capital requirement for settlement guarantee fund has been fixed at INR100mn, as opposed to being determined through daily stress tests.

AML / KYC

India Mulls Tracking for All Non-Cash Financial Transactions

By Garima Chitkara | 12/07/2018

India’s central bank is looking to create a repository of all non-cash financial transactions to widen the government’s crackdown on money laundering or shell company activities.

Securities / Derivatives

India’s NSE Accused Of Fraud In Algo-Trading Case

By Garima Chitkara | 09/07/2018

India’s securities regulator has issued a notice to NSE for allegedly misuse of its co-location facility by some brokers seeking early access to the exchange’s algo-trading system.

Securities / Derivatives

SEBI Raises Outbound Investment Limit For Some Investment Funds

By Garima Chitkara | 05/07/2018

Limit for alternative investment funds and venture capital funds for investments outside of India raised to $750m from $500m.

Crypto / Digital Assets

India’s Supreme Court Upholds RBI Crypto Ban

By Emma Zhou | 05/07/2018

RBI ban on financial institutions providing services to companies and individuals dealing in cryptocurrencies was upheld by the Supreme Court on Tuesday; next hearing scheduled for 20 July.

Market Infrastructure

India’s NSE Signs Post-Trade Technology Sharing Pact With Nasdaq

By Garima Chitkara | 04/07/2018

The National Stock Exchange will replace its current post trade platform for all asset classes with Nasdaq’s real-time clearing, risk management and settlement technology, among other cooperative agreements.

Securities / Derivatives

India to Accept AAA-rated Sovereign Securities as Collateral

By Manesh Samtani | 03/07/2018

Clearing arm of BSE’s India INX at GIFT City will accept AAA-rated international sovereign securities with maturities over 5 years as collateral from clearing members and custodians, starting with US treasuries.