Sebi committee to review ownership structure of clearing corporations

Sebi is reviewing the ownership structure of clearing corporations to ensure independence and effective risk management. A committee chaired by Usha Thorat, former RBI deputy governor, has been formed to suggest alternatives for capital needs and widen the list of eligible shareholders. \r

Clearing corporations, dominated by parent exchanges like ICCL and NCL, are subject to parent exchange shareholder expectations. Norms require exchanges to hold 51% equity in clearing corporations, with caps on non-residents and individuals at 5% and other institutions at 15%. The committee may review these caps and explore alternatives to meet financial obligations. \r

Sebi emphasizes the importance of independence, especially amidst growing derivatives market risks.