Thus, the uncertain global growth prospects pose significant risks to stability of Indian financial markets. A sudden reversal in BIS central bankers’ speeches  3  commodity prices, especially crude oil prices, could enhance volatility in the Indian financial markets, especially the forex market.
Over this same period foreign financial institutions were encouraged to conduct business in South Africa by the creation of a level playing field between local and foreign service providers. The regulatory authorities also actively encouraged the development of appropriate clearing, settlement, ownership-transfer and market information systems and insisted on proper intra-market and crossmarket risk management systems, including capital adequacy requirements for market participants.