FX-CLEAR, a forex dealing
system, which was launched by Clearcorp on August 7, 2003, offers two modes of
dealing i.e. Order Matching mode and Negotiation mode. FX-CLEAR covers the
inter-bank US Dollar-Indian Rupee (USD- INR) Spot, Swap and other transactions.
The USD-INR deals constitute about 85% of the transactions of the total Forex
transactions in India in terms of value. The facility for trading in the
FBIL USD/INR Reference Rate has been introduced with effect from November 07,
2022 on the platform.
The platform offers
guaranteed settlement from the point of trade for all the trades concluded on
the Order Matching Mode of the platform, wherein these trades are automatically
sent to Clearing Corporation. Accordingly, Clearing Corporation (CCIL) is the
Counterparty for these Trades.
FX-SWAP, a forex swap dealing system, which
was launched by Clearcorp on May 31, 2010, offers an order matching platform
for forex swaps. This platform endeavours to provide a transparent and
anonymous medium for trading in the highly broker driven swaps market by offering
swap instruments extending up to 12 months along-with three upto spot
instruments viz Cash/Tom, Cash/Spot, Tom/Spot, a LD/LD instrument (Month 1 end
over Month 2 end) and two ORF instruments (Month 1 end and Month 2 end).
FX-SWAP platform was launched with a unique feature of guarantee from the point
of trades for the Forward Legs of the transactions concluded on the
The platform extends the benefits of
guaranteed settlement from the point of trade to all the legs of the trades
concluded on the platform, including Cash, Tom, Spot and Forwards, wherein
these trades are automatically sent to Clearing Corporation. Accordingly,
Clearing Corporation (CCIL) is the Counterparty for these Trades.