Principles of Financial Market Infrastructures: mandatory risk management, settlement and disclosure standards for regulated market infrastructures under SEBI oversight. The circular requires SEBI regulated financial market infrastructures (including payment systems, CSDs/SSSs, CCPs and trade repositories) to implement the Principles of Financial Market Infrastructures, mandating clear legal basis, transparent governance, comprehensive risk management covering credit, liquidity and operational risks, adequate financial resources and FMI specific measures such as settlement finality, collateral and margin standards, default management, segregation and portability, access criteria, link risk management and disclosure obligations, and directs periodic monitoring and assessment by SEBI.
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Provisions expressly mentioned in the judgment/order text.
Principles of Financial Market Infrastructures: mandatory risk management, settlement and disclosure standards for regulated market infrastructures under SEBI oversight.
The circular requires SEBI regulated financial market infrastructures (including payment systems, CSDs/SSSs, CCPs and trade repositories) to implement the Principles of Financial Market Infrastructures, mandating clear legal basis, transparent governance, comprehensive risk management covering credit, liquidity and operational risks, adequate financial resources and FMI specific measures such as settlement finality, collateral and margin standards, default management, segregation and portability, access criteria, link risk management and disclosure obligations, and directs periodic monitoring and assessment by SEBI.
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