The Clearing Corporation of India Ltd. (CCIL) on March 12, 2025, issued the Essential requirements under BCBS-IOSCO’s margin requirements for non-centrally cleared derivatives vis-à-vis SARVAM.
The following has been stated namely: -
• It has issued guidance on aligning its Service for Analysis of Risk, Valuation, and Margining (SARVAM) Rules with the Basel Committee on Banking Supervision (BCBS) and International Organization of Securities Commissions (IOSCO) margin requirements for non-centrally cleared derivatives.
• It states that the collateral shall be segregated from the custodian’s assets and other members’ collateral, safeguarded against bankruptcy, and readily available in case of counterparty default.
