OTC derivatives market in India: recent regulatory initiatives and open issues for market stability and development

Dayanand Arora and Francis Rathinam

Macroeconomics and Finance in Emerging Market Economies, 2011, vol. 4, issue 2, 235-261

Abstract: In 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.

Date: 2011
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Working Paper: OTC Derivatives Market in India: Recent Regulatory Initiatives and Open Issues for Market Stability and Development (2010)
Working Paper: OTC Derivatives Market in India: Recent Regulatory Initiatives and Open Issues for Market Stability and Development (2010)
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DOI: 10.1080/17520843.2011.580571

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