Who can become a member of CCIL – Securities Segment? All Banks / Financial Institutions / Primary Dealer / Mutual Funds or Statutory Corporations / Bodies Corporate including Companies as defined in the Companies Act or other entities maintaining SGL Account with Reserve Bank of India and Current accounts with Reserve Bank of India, Mumbai/Settlement Bank designated by CCIL, who have been granted membership to RBI’s INFINET and NDS are eligible to seek membership to CCIL’s Securities Segment, provided they fulfill the other membership criteria stipulated by CCIL in respect of profitability, capital adequacy, risk management etc. as provided in its Bye-laws, Rules and Regulations.
Who can become a member of CCIL – CBLO Segment? The membership of CBLO segment initially covered only those entities who were already members of Reserve Bank of India’s Negotiated Dealing System (NDS). CBLO membership has since been extended to cover other market players such as Co-operative Banks, NBFCs, Corporates, etc. who are not members of RBI- NDS. Such Non-NDS members are eligible to be admitted as Associate Members to CCIL’s CBLO segment. The minimum membership eligibility criteria of CBLO Associate Membership have been provided in CCIL’s Bye-laws, Rules and Regulations.
Who can become a member of CCIL – Forex Segment? All Authorized Dealers in Foreign Exchange, as licensed by Reserve Bank of India, and maintaining a Current Account with Reserve Bank of India, Mumbai are eligible to seek membership to CCIL’s Forex Segment, provided they are members of RBI INFINET.
Who can become a member of FX – Clear? All members of CCIL’s Forex Segment are eligible to seek membership to Clearcorp’s Forex Dealing Segment i.e. FX-CLEAR.
Who can become a member of CLS? All members of CCIL’s Forex Segment are eligible to seek membership to CCIL’s Continuous Linked Settlement (CLS) Segment.
Who can become a member of Forex Forward? All members of CCIL’s Forex Segment are eligible to seek membership to CCIL’s Forex Forward Segment.
Who can become a member of Rupee Derivatives Segment? Banks and Primary Dealers who are members of CCIL’s Securities Segment are eligible to seek membership to CCIL’s Rupee Derivatives Segment.
How can an applicant apply for CCIL Membership? The prescribed CCIL Membership Application Form may be submitted, duly filled in and signed by an authorized signatory, in physical form to CCIL. The applicable Membership Application Form can be obtained by sending a request to CCIL generated by selecting appropriate option under Home>Membership>Application Form.
What are the other documentations to be fulfilled? NDS Members are required to execute a Power of Attorney and RBI Debit Mandate for Securities, Forex and CBLO Segment in the prescribed format in addition to any other conditions as may be specified by CCIL in it’s Membership Approval Letter.In respect of Associate members of CBLO Segment, Documentation formalities required to be completed are available under Home> Membership>Documentation.
Are there any Membership Fees to be paid?
Securities and Forex SegmentA one time membership fee of Rs.1 Lac plus applicable service tax and cess is payable for each of these business segments.CBLO SegmentNDS Members/Associate Members are required to pay a one time membership fee of Rs.,25000/- plus applicable Service Tax and Cess to “The Clearing Corporation of India Ltd. And Rs. 25,000/- to “Clearcorp Dealings Systems (India) LtdFX-Clear, CLS & Forex ForwardNo Membership fee has currently been prescribed for the same.The details of Membership fees are also available under Home>Membership>Fees and Member Billing
Are there any other charges to be paid by the member from time to time? Yes, transaction and other charges will be payable by every member. The detailed tariff structure is provided under Home> Membership> Fees and Member Billing.
What is the frequency of monthly charges bill generation and the time limit for bill payment? All charges bills are generated on a monthly basis, usually at the end of the day of last business day of each calendar month and made available to members through CCIL’s Report Servers. Members are required to ensure payment of the bills on or before 10th day of the next month (next business day in case 10th day is a holiday).
What is the acceptable mode of payment of monthly charges? Members can pay their monthly charges into CCIL’s Bank account directly through electronic means of RTGS/NEFT. They can also pay the charges by cheque/pay orders drawn in favour of “The Clearing Corporation of India Ltd.” (in case of CCIL’s charges) and “Clearcorp Dealing Systems (India) Ltd. ( in case of Clearcorp Charges).
How will the reports be made available to the members? All members can access their reports from CCIL’s Report Server hosted on the INFINET. Associate Members can access their reports through CCIL’s report server hosted on INTERNET.
Are there any Rules & Regulations a member has to abide by? Yes, every member is bound by CCIL’s Bye Laws, Rules & Regulations and other Notifications issued by CCIL from time to time.