OTC derivatives market in India: recent regulatory initiatives and open issues for market stability and development
AbstractIn the wake of the present financial crisis, which is believed to have been exacerbated by over-the-counter derivatives, increasing attention is being paid to analysing the regulatory environment of these markets. In this context, we analyse the regulatory framework of the over-the-counter derivatives market in India. The paper, inter alia , analyses how a good reporting system and a post-trade clearing and settlement system, through a centralized counter party, has ensured good surveillance of the systemic risks in the Indian over-the-counter market. This research paper also explores those open issues that are important to ensure market stability and development competition among centralized counterparties and better supervision of the off-balance sheet business of financial institutions.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Macroeconomics and Finance in Emerging Market Economies.
Volume (Year): 4 (2011)
Issue (Month): 2 (April)
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Other versions of this item:
- Dayanand Arora & Francis Xavier Rathinam, 2010. "OTC Derivatives Market in India: Recent Regulatory Initiatives and Open Issues for Market Stability and Development," Working Papers id:2479, eSocialSciences.
- DayanArora & Francis Xavier Rathinam, 2010. "OTC Derivatives Market in India : Recent Regulatory Initiatives and Open Issues for Market Stability and Development," Finance Working Papers 23029, East Asian Bureau of Economic Research.
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
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