08:43 Apr 13, 2024
CCILCCIL > About Us > Milestones

May 2, 2023

CCIL launched the “SARVAM” platform to to provide Valuation, Margining, collateral management and risk analytics services for non-centrally cleared derivatives.

April 3, 2023

CCIL commenced guaranteed settlement to all the trades referenced to the Modified MIFOR benchmark.

November 7, 2022

Launch of the new version of FX-Clear platform enabling members to trade in the FBIL USD/INR Reference Rate (R-Spot)

November 29, 2021

Launch of the new version of FX-Retail Platform with facility to Rollover and Early Deliver outstanding Forward Contracts.

November 12, 2021

Launch of the RBI Retail Direct Scheme - a one-stop solution to facilitate investment in Government Securities by Individual Investors.

June 30, 2021

Launch of FBIL Modified MIFOR Curve with CCIL as the Calculation Agent.

June 15, 2021

Launch of FBIL Adjusted MIFOR Curve (Fallback of FBIL MIFOR Curve) with CCIL as the Calculation Agent.

February 1, 2021

Introduction of Clearing Member structure in Forex Forward segment.

November 2, 2020

Clearing Member Structure in the Rupee IRS Guaranteed Segment went live.

October 5, 2020

Clearcorp introduced ‘Request for Quote’ (RFQ) dealing mode for secondary market trading in the NDS-OM Platform.

September 21, 2020

Facility to book Forward Contracts on the FX-Retail Platform operationalized.

March 3, 2020

Introduction of Tiered Membership structure in Securities Segment.

February 15, 2020

CROMS Web facilitating Direct Market Access for Gilt Account Holders to CROMS Order Book for Market Repos in Government Securities went live.

October 25, 2019

ETP license received for NDS-OM, CROMS, NDS-CALL, ASTROID, FX-CLEAR, FX-SWAP trading platforms. 

October 1, 2019

Operationalization of F-TRAC as a CCIL Trade Repository. 

August 5, 2019

Clearcorp Dealing Systems India Limited launched the FX-Retail forex trading platform.

June 3, 2019

CD primary market reporting commenced on F-TRAC.

March 11, 2019

Implementation of the Voluntary Retention Route for FPIs and its monitoring at CCIL.

November 19, 2018

Guaranteed settlement service commenced in respect of IRS trades referenced to the MIFOR benchmark.

November 5, 2018

CCIL launched Triparty Repo services and CCP clearing of Triparty repo transactions in government securities. Triparty repo trading operationalized on the Triparty Repo Order Matching Platform of Clearcorp Dealing Systems (India) Ltd.

April 03, 2018

Launch of the FBIL Forward Premia Curve, FBIL MIFOR and FBIL MIBOR-OIS benchmark.

December 12 , 2017

​​Launch of "FBIL MROR" with CCIL as the Calculation Agent. 

August 23, 2017

Launch of "FBIL T-Bills Curve" and "FBIL CD Curve" with CCIL as the Calculation Agent.

June 01, 2017

RBI mandated the implementation of the LEI system for all participants in the OTC markets for Rupee interest rate derivatives, foreign currency derivatives and credit derivatives in India.

March 29, 2017

Clearing Corporation of India Limited (CCIL) recognized as a “third-country CCP”. CCIL has obtained recognition as a “third-country CCP” under the European Market Infrastructure Regulation (“EMIR”), consequent upon recognition of India as an equivalent regime by European Commission’s decision dated December 15, 2016.

December 21, 2016

Legal Entity Identifier India Limited (LEIL), a wholly Owned Subsidiary of CCIL, has been accredited by the Global Legal Entity Identifier Foundation (GLEIF) as a Local Operating Unit (LOU) for issuance of Legal Entity Identifiers (LEIs), among the first LOUs to be accredited by GLEIF.

May 5, 2016

Launch of FBIL FC-Rupee Options Volatility Matrix Rate, with CCIL as the Calculation Agent.

September 23, 2015

Launch of FBIL Term MIBOR, with CCIL as the Calculation Agent.

August 3, 2015

Launch of ASTROID, the Anonymous IRS Dealing System for trading in OTC rupee derivative trades. 

July 22, 2015

Launch of FBIL Overnight MIBOR, with CCIL as the Calculation Agent.

April 22, 2015

CCIL LOU was endorsed by ROC (Regulatory Oversight Committee).

April 13, 2015

CCIL started disseminating data on USD-INR forwards and USD-INR Currency Options.

April 6,2015  

New version of FX-CLEAR and FX-SWAP Platform launched with CCIL as counter-party from point of trade concluded in Order Matching Mode, allowing members to trade on these platforms without any bilateral limits with various counter-parties.

April 6,2015  

Payment-versus-payment (PvP) mode of settlement launched in the Forex Settlement Segment, resulting in substantial reduction of risk for members.

March 26, 2015

Portfolio compression cycle carried out for cleared forward INR/USD trades.

November 18, 2014

CCIL launched its services as a Local Operating Unit (LOU) for issuing globally compatible Legal Entity Identifiers (LEIs) in India.

June 2, 2014

FIMMDA's F-TRAC platform consisting of reporting modules for capturing secondary market OTC trades in (i) Certificate(s) of Deposit; (ii) Commercial Paper(s) and/or (iii) Repo Transactions in Certificate(s) of Deposit, Commercial Paper(s) and/or Corporate Bonds has been transferred to CDSIL, a wholly owned subsidiary of CCIL.

March 28, 2014

Launch of CCP Clearing of Rupee denominated Interest Rate Swaps and Forward Rate Agreements.

January 6, 2014

RBI selected CCIL to act as a Local Operating Unit (LOU) for issuing globally compatible Legal Entity Identifiers (LEIs) in India.

January 1, 2014

The Reserve Bank of India (RBI) granted the status of a Qualified Central Counterparty (QCCP) to CCIL.

December 30, 2013

CCIL successfully launched the Phase IV of the Forex Trade Repository with reporting of Interbank and Client transactions in Currency Swaps and FCY Interest Rate Swaps and Forward Rate Agreements.

April 2, 2013

Phase III of the Forex Trade Repository launched with the reporting of FCY-FCY and FCY-INR Forwards and FCY-FCY and FCY-INR Options between Authorised Dealers and their Clients.

November 5, 2012

Launch of the Phase II of the Reporting Platform for Inter-bank OTC Forex Derivatives

October 29, 2012

Migration of Securities Settlement to CBS

July 9, 2012

Launch of the Trade Repository service for OTC Foreign Exchange Derivatives. The first phase begins with the capture of all inter-bank forex forwards and swaps in the USD-INR currency pair, and currency options in FCY-INR.

June 29, 2012

The web-based NDS-OM module for online trading in secondary market for Government Securities by gilt account holders (GAH) was launched. The module permits internet-based direct participation of gilt account holders in secondary market for G-secs.

June 14, 2012

The settlement MNSB files for CCIL's Derivatives, Forex, CBLO and Securities Segment migrated to Core Banking Solution (CBS) of RBI from RTGS.

February 21, 2012

The NDS-Auction Web Based Module was launched to facilitate direct internet based access to Gilt Account Holders to directly participate in Primary auctions of Gilts.

December 1, 2011

The FIMMDA Integrated Reporting Platform (F-TRAC), developed and maintained by Clearcorp Dealing Systems (India) Ltd., was launched. The platform is for reporting deals in Corporate bonds, Corporate bond Repo and CDs/CPs.

December 1, 2011

Credit Default Swaps (CDS) for Corporate Bonds started, with CDS trade reporting on CCIL’s Online Reporting Engines (CORE).

October 08, 2011

Market Repos in STRIPS instruments now facilitated on CROMS New Version implemented effective 08 Oct '11. Several other functionality enhancements also form part of the CROMS New Version.

July 28, 2011

CCIL on July 28, 2011 successfully carried out a Portfolio Compression exercise in the OTC Interest Rate Swaps market.

June 27, 2011

Launch of CCIL’s new web portal.

August 11, 2010

CCIL started settlement of 'India-Pay Mobile Payment Service - India Pay Switch' file on a Non Guaranteed basis.

May 31, 2010

Launch of FX-SWAP Dealing System an anonymous order driven matching system which allows trading in 15 Instruments; including 3 upto Spot instruments (namely, Cash-Tom, Tom-Spot & Cash-Spot) and 12 month-end Forward instruments i.e. Spot over Month 1 end to Month 12 end. FX-SWAP is the first of its kind platform which offers guaranteed settlement of forward trades from the point of trade. However, trades up to the spot leg are subject to bilateral limits.

December 1, 2009

CCIL commenced the settlement of forex forward trades with guarantee from the trade date.

June 1, 2009

The CCIL Tenor Index was launched to capture the tenor wise movement across the term structure.

June 1, 2009

The CCIL SDL Index was launched to track the market for SDLs through a representative index.

May 11, 2009

Version 2 of NDS Auction module went live to facilitate bidding in primary Dated Securities auctions.

February 11, 2009

CCIL became the first organization to be granted authorisation by the Reserve Bank of India under “The Payment & Settlement Systems Act- 2007”.

January 27, 2009

Clearcorp launched 'Clearcorp Repo Order Matching System' (CROMS), a STP enabled electronic anonymous order matching platform to facilitate dealing in market repos in government securities. CROMS facilitates dealing in two kinds of Repos viz. Basket Repos and Special Repos for T+0 and T+1 settlement tenors.

January 1, 2009

CCIL launched the CCIL Certification Programme (CCP), an online testing and certification programme.

November 27, 2008

CCIL commenced Non-Guaranteed Settlement of OTC Trades in Rupee Derivatives.

June 26, 2008

Launch of Designated Settlement Bank (DSB) module, following RBI’s decision to offer current account at DAD only for entities regulated by them. 


September 10, 2007

Version 2.0 of NDS-CALL electronic screen-based quote driven dealing system for Call, Notice & Term money was launched. The enhancements include User hierarchy with multiple user levels with pre set role privileges and risk mitigation measures such as assigning Single Order Limit and setting up of exposure limits for Counterparties at various levels.

August 30, 2007

CCIL's reporting platform for the transactions in OTC Interest Rate Derivatives (Interest Rate Swaps and Forward Rate Agreements (IRS/FRA)) became operational.

July 03, 2007

CCIL started releasing the Daily Spot Reference Rates through it's website.

May 21, 2007

Version 3.0 of the NDS-OM was launched enabling Odd Lot trading, trading of new securities in the When Issued market and trading of CSGL entities on this platform.

March 5, 2007

The eNotice System extended to Non-NDS Associate Members.

January 25, 2007

CCIL launched the CCIL MIBOR (CCIL Mumbai Inter-Bank Offer Rate)/MIBID (CCIL Mumbai Inter-Bank Bid Rate) based on Dealt Quotes from NDS-Call.

January 16, 2007

Euroclear and The Clearing Corporation of India Limited (CCIL) signed a Memorandum of Understanding (MOU) regarding post-trade processing collaboration.

September 18, 2006

NDS - CALL, an electronic screen-based quote driven dealing system for all Call, Notice and Term Money operations was launched.

September 11, 2006

Launch of Intraday Securities Withdrawal in CBLO segment.

September 4, 2006

CCIL launched its eNotice System available to all members for sending their collateral notices in electronic form.

September 4, 2006

CCIL released its CCIL ALL SOVEREIGN BOND INDICES (CASBI), which would reflect the broad movement of the market as it contains all available sovereign bonds. The base date of the index is January 1, 2004.

August 1, 2006

CCIL receives the ISO/IEC 27001:2005 certification for securing its information assets.

July 31, 2006

Version - 2.0 of the NDS - OM Trading Platform launched, enabling trading in Treasury Bills and the When Issued market.

March 20, 2006

CCIL has launched Overnight Collateralised Benchmark Reference Rates for Indian market, namely CCIL Collateralised Benchmark Bid Rate (CCBID) and CCIL Collateralised Benchmark Offer Rate (CCBOR). The rates are disseminated at 10:10 A.M. from Monday to Friday. The historical data is available in CCIL website (http: //www.ccilindia.com) from January 2004.

August 16, 2005

CBLOi (Internet Trading System for Non-NDS Members) commenced operations.

August 1, 2005

RBI launched the anonymous screen based order matching trading module for govt. securities on its Negotiated Dealing System–Order Matching Segment (NDS-OM) with CCIL as the central counterparty to all deals.

May 2, 2005

CCIL released its T-Bill Index consisting of two T-bill indices – CCIL EQUAL WEIGHT T-Bills INDEX and CCIL LIQUIDITY WEIGHT T-Bills INDEX. The CCIL T-Bills Indices are instruments that would capture the market movement in the short term maturity segment.

April 6, 2005

Commenced settlement of cross currency transactions through CLS.

February 7, 2005

Started releasing intra-day comparitive money market rates of Call, Repo and CBLO markets on its website.

January 31, 2005

Released its Sovereign Bond Indices,CCIL BROAD GILTS INDEX, Consisting of top 20 securities and CCIL LIQUID GILTS INDEX, consisting of the 5 most liquid bonds, to track the movement of the government securities market.

October 14, 2004

Govt. Securities Lending and Borrowing Scheme was operationalised.

August 27, 2004

Started clearing and settlement of ATM transactions of National Financial Switch operated by Institute for Development and Research in Banking Technology (IDRBT).

August 1, 2004

Rakshitra frequency enhanced from quarterly to monthly.

June 15, 2004

Operationalised “Straight Through Processing” arrangement for settlement of foreign exchange trades done on FXCLEAR.

April 2, 2004

Commenced net settlements in Government Securities as per DVP III Guidelines of Reserve Bank of India.

March 5, 2004

Non-NDS Members commence CBLO operations.

February 5, 2004

Extended scope of coverage of foreign exchange settlements to include INR/USD Cash and TOM trades.

October 18, 2003

Electronic movement of Member Margins / Collaterals facilitated through “Value Free Transfer Module” of NDS.

August 7, 2003

Launched Electronic Currency Dealing Platform “FX Clear” to facilitate inter-bank foreign exchange dealing.

July 19, 2003

Operationalised Anonymous Auction System to facilitate Buy Back of Government Securities by Government of India.

June 4, 2003

Set up a wholly owned Subsidiary Company – Clearcorp Dealing Systems (India) Pvt. Ltd. to manage dealing platforms in Money and Currency Markets.

April 1, 2003

All trades in the securities settlement routed through CCIL.

February 15, 2003

Commenced publication of Zero Coupon Yield Curve on Website.

January 20, 2003

Launched new Money Market Instrument – “Collateralised Borrowing and Lending Obligation” (CBLO) a repo variant with several unique features for NDS Members.

November 8,2002

Commenced guaranteed settlement of inter-bank foreign exchange Spot trades in INR/USD and Forward Trades on Spot Window.

October 25, 2002

Started publication of “Weekly Market Update” containing weekly statistics and analysis of settlement information and important market developments.

October 17, 2002

Launched Quarterly Publication “Rakshitra” containing articles in relevant operational areas as also detailed statistics and analysis of settlement information.

April 10, 2002

Extended facility of guaranteed settlement for trades in Government Securities.

February 15, 2002

Commenced clearing and settlement of market trades in Government Securities co-terminus with operationalisation of Reserve Bank of India’s Negotiated Dealing System (NDS).

April 30, 2001

Incorporated as India's first clearing house for settlement of market trades in Government Securities and inter-bank foreign exchange transactions.

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