Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The present document is the assessment of two Financial Market Infrastructures (FMI) operated by the Clearing Corporation of India (CCIL) in India - the Central Counter Party (CCP) and Trade Repository (TR); and the responsibilities of the authorities - against the Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO) Principles for Financial Market Infrastructures (PFMIs). The assessment was conducted through a country visit in the context of the India Financial Sector Assessment Program (FSAP) in March 2017. The information used in the assessment includes relevant laws, bye-laws, regulations, rules and procedures governing the systems, and other available material. In addition, extensive discussions were held with the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), CCIL and its participants. The reports produced as part of the CPMI-IOSCO Level 1 and Level 2 implementation monitoring exercises were used for the assessment of the responsibilities of the authorities. This assessment uses the methodology presented in the CPMI-IOSCO publication - Principles for financial market infrastructures: Disclosure Framework and Assessment Methodology (December, 2012).

Finance and Financial Sector Development --- Financial Intermediation --- Financial Regulation and Supervision --- Financial Structures --- Securities Markets Policy and Regulation

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The financial sector is currently undergoing a major transformation, brought about by the rapid development and spread of new technologies. The confluence of 'finance' and 'technology' is often referred to as 'Fintech', typically describing companies or innovations that employ new technologies to improve or innovate financial services. 'Fintech' developments are seen across all areas of the financial sector, including payments and financial infrastructures, consumer and SMElending, insurance, investment management, and venture financing. This note on distributed ledger technology (DLT) and blockchains is part of a series of short notes that explore new trends and developments in Fintech and analyze their potential relevance for WBG activities. Forthcoming notes in this series will cover marketplace lending, 'Insuretech', and other topics. This note outlines the mechanisms, origins, and key characteristics of DLT; the difference between 'public' and 'private' DLT; the technology's main advantages, challenges, and risks; relevant examples of DLT applications (with a focus on financial sector applications); and a brief overview of activities by governments, multilateral organization, and other stakeholders in this space. Finally, this note proposes next steps for the World Bank to study and evaluate areas where DLT could potentially be integrated into World Bank financial sector operations.

Access to Finance --- Finance and Financial Sector Development --- Financial Intermediation --- Financial Regulation and Supervision --- Financial Structures --- Information and Communication Technologies --- Information Technology --- Science and Technology Development --- Technology Innovation