Bank of England (BoE) has granted recognition to the clearing corporation (CC) of Metropolitan Stock Exchange of India (MSEI) for routing trades from the UK to India’s stock exchanges. In preparation for Brexit, UK-based entities have to get trades routed from a CC approved by the BoE for transactions in India. The move is significant as UK-based foreign institutional investors may be able to route their orders through the MSEI CC for trading in Indian markets once interoperability between CCs kicks in from June 1.

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