Standard Chartered launches derivatives clearing in India

12 Sep 2005

Standard Chartered has become the first non-Indian bank to offer a "one-stop" derivatives clearing service in India.

The bank's service has been designed to compete with futures clearing firms as it covers clearing and settlement in index futures, index options, individual stock futures, individual stock options and interest rate futures on National Stock Exchange of India. (NSE). The service...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.