European Authorities Recognize Indian Clearinghouse, Allowing Deutsche Bank and BNP Paribas Direct Trading in Government Bonds

European authorities allowed Deutsche Bank and BNP Paribas to trade Indian government bonds directly after recognizing India’s sovereign debt clearinghouse as a permitted counterparty. The designation allows lenders including Deutsche Bank and BNP Paribas to trade bonds in India more directly.

The recognition removes an intermediary requirement that had previously complicated access for European banks to Indian sovereign debt markets.

@business reported that the change applies specifically to clearing operations for government bonds.