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of <h1>SEBI Announces Interoperability Framework for Clearing Corporations to Boost Efficiency and Cut Costs by June 1, 2019.</h1> The circular issued by SEBI outlines the framework for interoperability among Clearing Corporations (CCPs), allowing market participants to consolidate clearing and settlement functions at a single CCP, regardless of the executing stock exchange. This initiative aims to enhance capital efficiency and reduce costs. An expert committee reviewed the viability of interoperability, leading to regulatory amendments. The framework mandates peer-to-peer links between CCPs, risk management protocols, collateral management, net settlement processes, and infrastructure for real-time data exchange. It also covers default handling, transaction charges transparency, dispute resolution, and inter-CCP agreements. Implementation is required by June 1, 2019.
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