By choosing to settle their trades through CCIL, market participants will gain in the following ways:

	Assurance of settlement on the settlement date
	Reduction in counterparty exposure. (In case of government securities, the exposure will get extinguished upon acceptance of trades for settlement; in forex clearing & settlement, since a Loss Allocation Procedure is stipulated, the exposure will not get extinguished but will come down from the gross level to the net level.)
	Operational efficiency
	Easier reconciliation of accounts (in case of forex trades)
	Improved liquidity and better leveraging (e.g., shorter holding periods for government securities)
	Lower operational cost, overall