Members trade on RBI's Negotiated Dealing System (NDS) and NDS-Order Matching (NDS-OM) via the INFINET network, a secure Closed-User Group (CUG) hybrid network consisting of VSATs and leased lines.

All the details of such trades on NDS and NDS-OM are forwarded in batches to the CCIL system via INFINET for exposure check and computing the settlement obligations. Both the funds as well as the securities leg get settled through members' Current and SGL/CSGL Accounts maintained at RBI. Trades passing the exposure check are novated in which CCIL becomes the Central Counter Party. DVP-III method of settlement in which ISIN wise securities are netted separately for SGL and CSGL transactions and funds netting is done on a multilateral basis. As a Central Counter Party CCIL guarantees settlement of all such trades on the settlement date and ensures efficiency of the settlement system.