{"id":8149,"date":"2024-06-24T13:53:59","date_gmt":"2024-06-24T13:53:59","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=8149"},"modified":"2026-04-13T12:03:30","modified_gmt":"2026-04-13T12:03:30","slug":"clearing-corporation-of-india-limited-for-gsecs","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/","title":{"rendered":"Clearing Corporation of India Limited for GSecs"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Indian investment market is huge, and countless transactions take place every day. There are various regulations and instructions guiding and monitoring the operations of different investment tools. A low-risk level is a major concern for investors and makes a noticeable impact on investment decisions. As far as government securities are concerned, sovereign backing ensures there is low risk of default, keeping investors worry-free. That said, a specific entity tasked with assuring guaranteed settlement makes the market more transparent and reliable.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The introduction of the Clearing Corporation of India Limited, CCIL, is an initiative towards the same. It has taken diverse roles throughout its journey for the betterment of the financial market. Join us as we go through a detailed overview of the Clearing Corporation of India Limited, understand its objectives, learn about the services it offers, and unfold its positive impacts.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Establishment_of_Clearing_Corporation_of_India_Limited_Journey_So_Far\" >Establishment of Clearing Corporation of India Limited &amp; Journey So Far!<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#CCIL_Segments\" >CCIL Segments<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Primary_Objective_of_Clearing_Corporation_of_India_Limited\" >Primary Objective of Clearing Corporation of India Limited<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Services_Offered_by_Clearing_Corporation_of_India_Limited\" >Services Offered by Clearing Corporation of India Limited<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Clearing_Settlement\" >Clearing &amp; Settlement<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Collateral_Management\" >Collateral Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Risk_Management\" >Risk Management<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Trade_Repository\" >Trade Repository<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Rate_Derivatives\" >Rate Derivatives<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Credit_Derivatives\" >Credit Derivatives<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Forex_Derivatives\" >Forex Derivatives<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Portfolio_Compression_Services\" >Portfolio Compression Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Data_Services\" >Data Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#SARVAM\" >SARVAM<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Impact_of_Clearing_Corporation_of_India_Limited_on_Indias_Financial_Market\" >Impact of Clearing Corporation of India Limited on India\u2019s Financial Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Key_Achievements_of_Clearing_Corporation_of_India_Limited\" >Key Achievements of Clearing Corporation of India Limited<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Clearing_Corporation_of_India_Limited_Subsidiaries\" >Clearing Corporation of India Limited Subsidiaries<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#ClearCorp_Dealing_Systems_India_Limited\" >ClearCorp Dealing Systems India Limited<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Legal_Entity_Identifier_India_Limited\" >Legal Entity Identifier India Limited<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#Seamless_GSecs_Investment_with_GoldenPi\" >Seamless GSecs Investment with GoldenPi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#FAQs_About_Clearing_Corporation_Of_India_Limited_For_GSecs\" >FAQs About Clearing Corporation Of India Limited For GSecs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#1_What_types_of_trades_are_settled_through_CCIL\" >1. What types of trades are settled through CCIL?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#2_When_are_the_members_informed_of_the_completion_of_the_settlements\" >2. When are the members informed of the completion of the settlements?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#3_How_do_you_become_a_member_of_CCIL\" >3. How do you become a member of CCIL?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/clearing-corporation-of-india-limited-for-gsecs\/#4_How_does_CCIL_handle_the_shortage_of_funds_in_case_of_a_members_obligation_to_non-deliver_funds\" >4. How does CCIL handle the shortage of funds in case of a member&#8217;s obligation to non-deliver funds?\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<h2><span class=\"ez-toc-section\" id=\"Establishment_of_Clearing_Corporation_of_India_Limited_Journey_So_Far\"><\/span><strong>Establishment of Clearing Corporation of India Limited &amp; Journey So Far!<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-8183 size-full\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090536\/Establishment-of-Clearing-Corporation-of-India-Limited-Journey-So-Far.jpg\" alt=\"Establishment of Clearing Corporation of India Limited &amp; Journey So Far!\" width=\"1160\" height=\"550\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090536\/Establishment-of-Clearing-Corporation-of-India-Limited-Journey-So-Far.jpg 1160w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090536\/Establishment-of-Clearing-Corporation-of-India-Limited-Journey-So-Far-300x142.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090536\/Establishment-of-Clearing-Corporation-of-India-Limited-Journey-So-Far-1024x486.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090536\/Establishment-of-Clearing-Corporation-of-India-Limited-Journey-So-Far-768x364.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090536\/Establishment-of-Clearing-Corporation-of-India-Limited-Journey-So-Far-585x277.jpg 585w\" sizes=\"(max-width: 1160px) 100vw, 1160px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0In April 2001, the Clearing Corporation of India Limited was set up as a reliable entity to clear and settle transactions in government securities, money markets, and foreign exchange in the country. Its scope of settlement has been progressively broadened to encompass the foreign exchange and over-the-counter (OTC) derivatives markets. By 2014, CCIL received recognition as a Qualified Central Counterparty or QCCP from the Reserve Bank of India (RBI).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CCIL has effortlessly adjusted to the changing dynamics of the financial industry, taking up multiple responsibilities.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"CCIL_Segments\"><\/span><strong>CCIL Segments<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">CCIL covers the following segments.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Securities &amp; Money Market Settlement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Forex Settlement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Derivatives Settlement<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Primary_Objective_of_Clearing_Corporation_of_India_Limited\"><\/span><strong>Primary Objective of Clearing Corporation of India Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here are the vision and mission driving CCIL and all its operations!<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It aims to be compliant and resilient, providing secure and innovative financial products efficiently and cost-effectively.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It promises to boost efficiency, safety, and systemic and financial stability through advanced technology, strong risk management, and international standard practices.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It advocates for research, innovation, and collaborative thinking to shape a promising future in the financial <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/how-does-the-indian-financial-market-work-basic-structure-explained\/\">markets.<\/a><\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Services_Offered_by_Clearing_Corporation_of_India_Limited\"><\/span><strong>Services Offered by Clearing Corporation of India Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-8182 size-full\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090517\/Services-Offered-by-Clearing-Corporation-of-India-Limited.jpg\" alt=\"Services Offered by Clearing Corporation of India Limited\" width=\"1160\" height=\"550\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090517\/Services-Offered-by-Clearing-Corporation-of-India-Limited.jpg 1160w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090517\/Services-Offered-by-Clearing-Corporation-of-India-Limited-300x142.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090517\/Services-Offered-by-Clearing-Corporation-of-India-Limited-1024x486.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090517\/Services-Offered-by-Clearing-Corporation-of-India-Limited-768x364.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/06\/29090517\/Services-Offered-by-Clearing-Corporation-of-India-Limited-585x277.jpg 585w\" sizes=\"(max-width: 1160px) 100vw, 1160px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">CCIL performs many tasks through its core structure and subsidiaries. The services it offers can be categorized into the following 5 sections.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Clearing_Settlement\"><\/span><strong>Clearing &amp; Settlement<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">CCIL&#8217;s clearing and settlement services are divided into two parts. In addition to the Central Counterparty (CCP) settlement\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><span class=\"ez-toc-section\" id=\"Collateral_Management\"><\/span><b>Collateral Management<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The prime focus of CCIL is to offer guarantee transaction clearings and settlements in the government securities, money, foreign exchange, and derivatives markets. It started Central Counterparty or CCP settlement for its Securities Segment, Settlement Guarantee Fund or SGF to facilitate its Securities Segment and Forex Settlement Segment, and 6 more default funds. The collateral operations are executed under the RBI\u2019s CSGL Guidelines, notifications, and directives, along with the bylaws, rules, and regulations of CCIL to maintain efficiency and transparency.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><span class=\"ez-toc-section\" id=\"Risk_Management\"><\/span><b>Risk Management<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">CCIL, as a central counterparty, has a crucial role in risk mitigation in India\u2019s OTC markets. It has introduced various risk management practices to completely eliminate the counterparty failure risk or reduce it to the lowest level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Enlisted below are the 6 types of risk management processes drafted by CCIL.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Securities Settlement Process<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Triparty Repo<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">USD\/INR Process<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Forex Forward Process<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">CLS Process<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rupee Derivative Process<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The procedures for handling default cases are based on bylaws, rules, and regulations. Semi-annual drills on default handling are conducted by CCIL to increase awareness and efficiency. All the<a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/capital-market\/bonds-vs-equities-understanding-the-risk-and-return-trade-off\/\"> risk<\/a> management policies and practices are benchmarked to global standards and reviewed on a regular basis.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Trade_Repository\"><\/span><strong>Trade Repository<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">CCIL offers trade Repository services for the following.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><span class=\"ez-toc-section\" id=\"Rate_Derivatives\"><\/span><b>Rate Derivatives<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">CCIL started offering trade repository services in August 2007 as per RBI guidelines. It uses data on Rupee denominated Interest rate Swaps reported by market makers, like primary dealers and banks. CCIL further covers reported post-trade processing of trades, which includes cash flow settlement. Transactions concluded with clients started getting reported in 2013, and Interbank and Client Transactions made in Interest Rate Option and Swaption in 2019.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><span class=\"ez-toc-section\" id=\"Credit_Derivatives\"><\/span><b>Credit Derivatives<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">RBI permitted trades in <a href=\"https:\/\/www.investopedia.com\/terms\/c\/creditdefaultswap.asp\" target=\"_blank\" rel=\"noopener noreferrer\">Credit Default Swaps (CDS)<\/a> for market participants in December 2011 and made it compulsory for the market makers to report the data to CCIL.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><span class=\"ez-toc-section\" id=\"Forex_Derivatives\"><\/span><b>Forex Derivatives<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In July 2012, reporting of OTC foreign currency transactions was started off and completed in 4 phases by December 2013. CCIL receives all reports from authorized dealers (Category I) on transactions made among themselves.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The reports on data allow the centralization of all information and open access to the same.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Portfolio_Compression_Services\"><\/span><strong>Portfolio Compression Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Portfolio compression services allow market makers to have two-way positions where they can terminate a portion of their remaining trades in OTC derivative markets prior to original termination dates.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Data_Services\"><\/span><strong>Data Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The Clearing Corporation of India Limited offers data services for settlement activities and reporting platforms in the government securities, money, forex, and derivatives markets. It also provides value-added data services on internally developed products.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"SARVAM\"><\/span><strong>SARVAM<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The Service for Analysis of Risk, Valuation, and Margining or SARVAM by CCIL is designed to provide valuation, margining, collateral management, margin maintenance, and risk analytics services.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Impact_of_Clearing_Corporation_of_India_Limited_on_Indias_Financial_Market\"><\/span><strong>Impact of Clearing Corporation of India Limited on India\u2019s Financial Market<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here is how the establishment of the Clearing Corporation of India Limited has impacted the final markets.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Improved Efficiency:<\/b><span style=\"font-weight: 400;\"> The efficiency in <a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/what-is-the-settlement-amount\/\">settlements<\/a> of market transactions has increased by the presence of a robust central counterparty.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Increased Transparency:<\/b><span style=\"font-weight: 400;\"> The mandatory reporting of data and access to centralized databases in real life has increased transparency in the financial market.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reduced Risk:<\/b><span style=\"font-weight: 400;\"> The promise of guaranteed settlement from an acknowledged and certified entity has resulted in reduced risk of default.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reduced Settlement Costs:<\/b><span style=\"font-weight: 400;\"> CCIL reduces the settlement costs by consolidating different transactions and operational tasks.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Regulatory Compliance:<\/b><span style=\"font-weight: 400;\"> CCIL ensures regulatory compliance in the market by keeping comprehensive records and enforcing RBI regulations.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Key_Achievements_of_Clearing_Corporation_of_India_Limited\"><\/span><strong>Key Achievements of Clearing Corporation of India Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In its journey of over two decades, CCIL has made several contributions to the development of the financial markets, like government securities. Its key achievement occurred in 2015. It received the ISO\/IEC 27001:2013 certification from DNV GL, which indicates its commitment to safeguarding valuable information assets.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Clearing_Corporation_of_India_Limited_Subsidiaries\"><\/span><strong>Clearing Corporation of India Limited Subsidiaries<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">CCIL has the following two subsidiaries, which are structured with specific objectives.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"ClearCorp_Dealing_Systems_India_Limited\"><\/span><strong>ClearCorp Dealing Systems India Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It was incorporated in 2003. Its aim is to manage trading systems, which are developed to simplify money, fixed income, forex, and OTC derivatives market trading. NDS-OM, NDS-CALL, TREPS, CROMS, FX-CLEAR, and ASTROID trading platforms are managed under this company.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Legal_Entity_Identifier_India_Limited\"><\/span><strong>Legal Entity Identifier India Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It was set up as a Local Operating Unit to issue globally compatible LEIs in India. LEI LEI is a unique international reference number that identifies every legal entity participating in a financial transaction under any jurisdiction.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Seamless_GSecs_Investment_with_GoldenPi\"><\/span><strong>Seamless GSecs Investment with GoldenPi<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">With access to the <a href=\"https:\/\/goldenpi.com\/government-securities\" target=\"_blank\" rel=\"noopener noreferrer\">government securities<\/a> market becoming so easy and the Clearing Corporation of India Limited ensuring guaranteed settlement, investors have an encouraging investment environment. GoldenPi brings a complete and comprehensive platform to add to the ease and convenience of investment. Pay a visit, and you will notice how seamless navigating through different segments and accessing information is.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/goldenpi.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">GoldenPi<\/a> will display a list of the latest Gsec issues, including the offered interest rates, maturity period, payout, and other necessary details. You can sign up and complete the KYC without any hassle. Once it is done, proceed to choose any security and make the payment. Now, relax and reap the investment benefits.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_About_Clearing_Corporation_Of_India_Limited_For_GSecs\"><\/span><strong>FAQs About Clearing Corporation Of India Limited For GSecs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"1_What_types_of_trades_are_settled_through_CCIL\"><\/span><strong>1. What types of trades are settled through CCIL?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The transactions of government securities in the secondary market are settled via CCIL. The trades completed in the outright, market repo, and triparty repo markets are taken for settlement. The trades are received in securities, including treasury bills, central government securities, state government securities, and STRIPS (both new issues and re-issues).<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_When_are_the_members_informed_of_the_completion_of_the_settlements\"><\/span><strong>2. When are the members informed of the completion of the settlements?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Once the settlement status report is generated, CCIL uploads it to the Report Server, and then the members are informed of the settlement&#8217;s completion. The status is generally posted around\u00a0 4.30 pm on working days. <\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_How_do_you_become_a_member_of_CCIL\"><\/span><strong>3. How do you become a member of CCIL?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You will find the CCIL membership application form on its website. On the home page, under the Services segment, there is a section on membership. Click on \u2018how to apply,\u2019 and you will see a link to the E-Registration portal. It will redirect you to a new page where you can enter your mail ID and request a membership.<\/span>How will the reports be made available to members?<\/p>\n<p><span style=\"font-weight: 400;\">All the reports will be available on the CCIL Report Server. Members can check at their convenience. <\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_How_does_CCIL_handle_the_shortage_of_funds_in_case_of_a_members_obligation_to_non-deliver_funds\"><\/span><strong>4. How does CCIL handle the shortage of funds in case of a member&#8217;s obligation to non-deliver funds?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">CCIL shall access the Rupee Line of Credit available for the purpose and\/or the balances in its RBI Current account to bridge the fund shortage of members. The securities payout to be received by the member will be withheld.<\/span><\/p>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"1. 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There are various regulations and instructions guiding and monitoring&hellip;<\/p>\n","protected":false},"author":8,"featured_media":12165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[226,246],"tags":[258,259],"class_list":["post-8149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fixed-income","category-govt-securities","tag-ccil","tag-gsecs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Clearing Corporation Of India (GSCC)? Explained by GoldenPi<\/title>\n<meta name=\"description\" content=\"Discover what GSCC (Government Securities Clearing Corporation) is and its role in financial markets. GoldenPi explains the importance and functions of GSCC. 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