Timesof24
Final Up to date: March 16, 2023, 14:14 IST
Earlier, the Securities and Change Board of India (Sebi) granted recognition to such clearing firms in January final 12 months.
The regulator has granted renewal of recognition for one 12 months commencing on January 17, 2023
Markets regulator Sebi has renewed recognition to AMC Repo Clearing Ltd as a clearing company for one 12 months for the aim of clearing and settling transactions in repo and reverse repo within the debt securities.
The regulator has granted renewal of recognition for one 12 months commencing on January 17, 2023 and ending on January 16, 2024, in response to a notification uploaded on Sebi’s web site on Thursday.
Beneath the foundations, AMC Repo Clearing Ltd won’t undertake any exercise besides that of clearing and settling of transactions in repo and reverse repo within the debt securities which might be handled or traded on a recognised inventory trade.
Earlier, the Securities and Change Board of India (Sebi) granted recognition to such clearing firms in January final 12 months.
In October 2020, the regulator allowed establishing of a Restricted Goal Clearing Company (LPCC) for clearing and settlement of repo transactions in debt securities. Subsequently, in February 2021, the regulator issued tips whereby asset administration corporations (AMCs) have been required to contribute Rs 150 crore as share capital for establishing of LPCC by mutual funds.
The choice to permit the mutual fund trade to arrange LPCC was aimed toward serving to fund homes in tackling redemption strain and settle transactions in company bond market.
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