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.
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.
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.