MUMBAI (Reuters) – India needs to make clearing corporations more independent with a diverse ownership as being fully owned by stock exchanges raises a conflict of interest, an official from the country’s markets regulator said on Thursday.
“Some form of demerger of clearing corporations from their parent exchanges may be the way forward, we will come out with a public consultation on this shortly,” Ananth Narayan, a whole-time member of the Securities and Exchange Board of India, said at an event in Mumbai.
(Reporting by Ashwin Manikandan in Mumbai; Editing by Sonia Cheema)
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