Clearing & Settlement - CCIL
Segments
Guranteed Settlement
CCIL offers CCP Clearing for USD-INR Interbank FX Option trades with maturities up to 1 year, for both bilateral trades as well as trades concluded on the “OPTIX” platform. Bilateral USD-INR FX Option trades shall be reported to CCIL-TR through the existing reporting infrastructure using CCIL Online Reporting Engine (CORE) in Foreign Currency Options (FCY-INR) Segment or via FRS Utility in notepad format with ‘.optx’ file extension. Post successful ‘Exposure Check’, trades shall be considered for Guaranteed Settlement by CCIL
The Trades concluded on ‘OPTIX’ platform shall auto flow to Clearing and Settlement system of CCIL and CCIL-TR.
Settlement Process
For all reported FX Option trades eligible for Guaranteed Settlement and trades concluded on ‘OPTIX’ platform, CCIL shall carry out multilateral net settlement of INR premiums/unwind considerations.
Facility has been provided for the corresponding spot trades generation as a result of exercise of the ‘In the money Options trades’ on OPTIX platform. Further, facility has been provided for Members to report Delta Hedge Forward Trades to FX Option Segment for margin efficiency.
The resultant USD-INR spot trades arising out of the exercised FX Option trades and all the delta hedge Forward trades shall be netted Member-wise two Business Days before the Settlement Day (i.e., S-2 day). The netted positions arising out of such trades shall be subjected to Exposure Check on S-2 day in the Forex Settlement Segment and processed for Settlement in accordance with the Forex Settlement Segment Regulations.