Clearcorp Dealing Systems (India) Limited (Clearcorp), a wholly owned subsidiary of CCIL, was incorporated in June, 2003 to facilitate, set up and carry on the business of providing dealing systems/platform in Collateralised Borrowing and Lending Obligation(CBLO), Repos and all money market instruments of any kind and also in foreign exchange, foreign currencies of all kinds. Clearcorp has been set up to facilitate CCIL to segregate its other activities from the Clearing & Settlement activity, a risk bearing activity. Accordingly, the Shareholders of CCIL at their meeting held on June 4, 2003 resolved to transfer the activities of the Company relating to Forex Dealing Platform and Collateralised Borrowing and Lending (CBLO) dealing platform to Clearcorp and the same has been made operational from January 1, 2004.