Sebi flags conflict of interest in bourses-owned equity clearing corporations

Sebi flags conflict of interest in bourses-owned equity clearing corporations

FILE PHOTO: The logo of the Securities and Exchange Board of India (SEBI) is pictured at its headquarters in Mumbai, India, March 1, 2017. REUTERS/Shailesh Andrade/File Photo

India needs more independent equity clearing corporations with a diverse ownership as being fully owned by stock exchanges raises a conflict of interest, an official from the country’s markets regulator said on Thursday.