18:46 Nov 15, 2018
CCILCCIL > TripartyRepo

Introduction:

CCIL is providing clearing and settlement services, for Triparty Repo trades in Government Securities, under its Securities Segment. CCIL would act as a Central Counterparty to all the borrow and lend Triparty Repo trades received by it for settlement. CCIL would also be performing the role responsibilities of Triparty Repo Agent, in terms of Repurchase transactions (Repo) (Reserve Bank) Directions, 2018 as amended from time to time. CCIL would settle the Triparty Repo trades, in terms of its Securities Segment Regulations.

 

The Funds settlement of members is achieved by multilateral netting of the funds position in Triparty Repo with the funds position in Outright and Market Repo and settling in the books of RBI for members who maintain an RBI Current Account.  In respect of other members, Funds settlement is achieved in the books of Settlement Bank. Securities settlement for Triparty Repo trades, shall be achieved in the Gilt Account of the Member maintained with CCIL.  Securities obligation for outright and market repo trades shall be settled in the SGL / CSGL account of the Member with RBI.

 

 

Membership:

 

Entities who qualify and fulfil the eligibility criteria laid down for membership of Triparty Repo can apply for becoming a member in Triparty Repo. Members who are also Members of Securities Settlement Segment shall be eligible to settle their Tri-party Repo Trades under Securities segment. Other Members will be admitted as “Associate Members” in Securities segment only for the purpose of settlement of Triparty Repo trades.

Repo eligible entities, as per RBI guidelines applicable at relevant time can seek Membership for availing clearing and settlement services for Triparty Repo trades.

 

 

 

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