Central counterparties rarely attract the same attention as exchanges, yet they are critical to the smooth functioning of financial markets. During the review period, Indian Clearing Corporation (ICCL), the clearing arm of BSE, distinguished itself through a combination of rapid business growth, significant technology investment and a continued focus on risk management, strengthening its position not only within India but across the wider Asia-Pacific clearing landscape.
The scale of ICCL’s growth was particularly notable.
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