About us

Milestones

Date Title
02/05/2023 CCIL launched the “SARVAM” platform to to provide Valuation, Margining, collateral management and risk analytics services for non-centrally cleared derivatives.
03/04/2023 CCIL commenced guaranteed settlement to all the trades referenced to the Modified MIFOR benchmark
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07/11/2022 Launch of the new version of FX-Clear platform enabling members to trade in the FBIL USD/INR Reference Rate (R-Spot)
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29/11/2021 Launch of the new version of FX-Retail Platform with facility to Rollover and Early Deliver outstanding Forward Contracts.
12/11/2021 Launch of the RBI Retail Direct Scheme - a one-stop solution to facilitate investment in Government Securities by Individual Investors.
30/06/2021 Launch of FBIL Modified MIFOR Curve with CCIL as the Calculation Agent.
15/06/2021 Launch of FBIL Adjusted MIFOR Curve (Fallback of FBIL MIFOR Curve) with CCIL as the Calculation Agent.
01/02/2021 Introduction of Clearing Member structure in Forex Forward segment.
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02/11/2020 Clearing Member Structure in the Rupee IRS Guaranteed Segment went live.
05/10/2020 Clearcorp introduced ‘Request for Quote’ (RFQ) dealing mode for secondary market trading in the NDS-OM Platform.
21/09/2020 Facility to book Forward Contracts on the FX-Retail Platform operationalized.
03/03/2020 Introduction of Tiered Membership structure in Securities Segment.
15/02/2020 CROMS Web facilitating Direct Market Access for Gilt Account Holders to CROMS Order Book for Market Repos in Government Securities went live.
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25/10/2019 ETP license received for NDS-OM, CROMS, NDS-CALL, ASTROID, FX-CLEAR, FX-SWAP trading platforms.
01/10/2019 Operationalization of F-TRAC as a CCIL Trade Repository.
05/08/2019 Clearcorp Dealing Systems India Limited launched the FX-Retail forex trading platform.
03/06/2019 CD primary market reporting commenced on F-TRAC.
11/03/2019 Implementation of the Voluntary Retention Route for FPIs and its monitoring at CCIL.
Date Title
19/11/2018 Guaranteed settlement service commenced in respect of IRS trades referenced to the MIFOR benchmark.
05/11/2018 CCIL launched Triparty Repo services and CCP clearing of Triparty repo transactions in government securities. Triparty repo trading operationalized on the Triparty Repo Order Matching Platform of Clearcorp Dealing Systems (India) Ltd.
03/04/2018 Launch of the FBIL Forward Premia Curve, FBIL MIFOR and FBIL MIBOR-OIS benchmark.
Date Title
12/12/2017 Launch of "FBIL MROR" with CCIL as the Calculation Agent.
23/08/2017 Launch of "FBIL T-Bills Curve" and "FBIL CD Curve" with CCIL as the Calculation Agent.
01/06/2017 RBI mandated the implementation of the LEI system for all participants in the OTC markets for Rupee interest rate derivatives, foreign currency derivatives and credit derivatives in India.
29/03/2017 Clearing Corporation of India Limited (CCIL) recognized as a “third-country CCP”. CCIL has obtained recognition as a “third-country CCP” under the European Market Infrastructure Regulation (“EMIR”), consequent upon recognition of India as an equivalent regime by European Commission’s decision dated December 15, 2016.
Date Title
21/12/2016 Legal Entity Identifier India Limited (LEIL), a wholly Owned Subsidiary of CCIL, has been accredited by the Global Legal Entity Identifier Foundation (GLEIF) as a Local Operating Unit (LOU) for issuance of Legal Entity Identifiers (LEIs), among the first LOUs to be accredited by GLEIF.
05/05/2016 Launch of FBIL FC-Rupee Options Volatility Matrix Rate, with CCIL as the Calculation Agent.
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23/09/2015 Launch of FBIL Term MIBOR, with CCIL as the Calculation Agent.
03/08/2015 Launch of ASTROID, the Anonymous IRS Dealing System for trading in OTC rupee derivative trades.
22/07/2015 Launch of FBIL Overnight MIBOR, with CCIL as the Calculation Agent.
22/04/2015 CCIL LOU was endorsed by ROC (Regulatory Oversight Committee).
13/04/2015 CCIL started disseminating data on USD-INR forwards and USD-INR Currency Options.
06/04/2015 New version of FX-CLEAR and FX-SWAP Platform launched with CCIL as counter-party from point of trade concluded in Order Matching Mode, allowing members to trade on these platforms without any bilateral limits with various counter-parties.
06/04/2015 Payment-versus-payment (PvP) mode of settlement launched in the Forex Settlement Segment, resulting in substantial reduction of risk for members.
26/03/2015 Portfolio compression cycle carried out for cleared forward INR/USD trades.
Date Title
18/11/2014 CCIL launched its services as a Local Operating Unit (LOU) for issuing globally compatible Legal Entity Identifiers (LEIs) in India.
02/06/2014 FIMMDA's F-TRAC platform consisting of reporting modules for capturing secondary market OTC trades in (i) Certificate(s) of Deposit; (ii) Commercial Paper(s) and/or (iii) Repo Transactions in Certificate(s) of Deposit, Commercial Paper(s) and/or Corporate Bonds has been transferred to CDSIL, a wholly owned subsidiary of CCIL.
28/03/2014 Launch of CCP Clearing of Rupee denominated Interest Rate Swaps and Forward Rate Agreements.
06/01/2014 RBI selected CCIL to act as a Local Operating Unit (LOU) for issuing globally compatible Legal Entity Identifiers (LEIs) in India.
01/01/2014 The Reserve Bank of India (RBI) granted the status of a Qualified Central Counterparty (QCCP) to CCIL.
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30/12/2013 CCIL successfully launched the Phase IV of the Forex Trade Repository with reporting of Interbank and Client transactions in Currency Swaps and FCY Interest Rate Swaps and Forward Rate Agreements.
02/04/2013 Phase III of the Forex Trade Repository launched with the reporting of FCY-FCY and FCY-INR Forwards and FCY-FCY and FCY-INR Options between Authorised Dealers and their Clients.
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05/11/2012 Launch of the Phase II of the Reporting Platform for Inter-bank OTC Forex Derivatives
29/10/2012 Migration of Securities Settlement to CBS
09/07/2012 Launch of the Trade Repository service for OTC Foreign Exchange Derivatives. The first phase begins with the capture of all inter-bank forex forwards and swaps in the USD-INR currency pair, and currency options in FCY-INR.
29/06/2012 The web-based NDS-OM module for online trading in secondary market for Government Securities by gilt account holders (GAH) was launched. The module permits internet-based direct participation of gilt account holders in secondary market for G-secs.
14/06/2012 The settlement MNSB files for CCIL's Derivatives, Forex, CBLO and Securities Segment migrated to Core Banking Solution (CBS) of RBI from RTGS.
21/02/2012 The NDS-Auction Web Based Module was launched to facilitate direct internet based access to Gilt Account Holders to directly participate in Primary auctions of Gilts.
 
Date Title
01/12/2011 The FIMMDA Integrated Reporting Platform (F-TRAC), developed and maintained by Clearcorp Dealing Systems (India) Ltd., was launched. The platform is for reporting deals in Corporate bonds, Corporate bond Repo and CDs/CPs.
01/12/2011 Credit Default Swaps (CDS) for Corporate Bonds started, with CDS trade reporting on CCIL’s Online Reporting Engines (CORE).
08/10/2011 Market Repos in STRIPS instruments now facilitated on CROMS New Version implemented effective 08 Oct '11. Several other functionality enhancements also form part of the CROMS New Version.
28/07/2011 CCIL on July 28, 2011 successfully carried out a Portfolio Compression exercise in the OTC Interest Rate Swaps market.
27/06/2011 Launch of CCIL’s new web portal.
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11/08/2010 CCIL started settlement of 'India-Pay Mobile Payment Service - India Pay Switch' file on a Non Guaranteed basis.
31/05/2010 Launch of FX-SWAP Dealing System an anonymous order driven matching system which allows trading in 15 Instruments; including 3 upto Spot instruments (namely, Cash-Tom, Tom-Spot & Cash-Spot) and 12 month-end Forward instruments i.e. Spot over Month 1 end to Month 12 end. FX-SWAP is the first of its kind platform which offers guaranteed settlement of forward trades from the point of trade. However, trades up to the spot leg are subject to bilateral limits.
Date Title
01/12/2009 CCIL commenced the settlement of forex forward trades with guarantee from the trade date.
01/06/2009 The CCIL Tenor Index was launched to capture the tenor wise movement across the term structure.
01/06/2009 The CCIL SDL Index was launched to track the market for SDLs through a representative index.
11/05/2009 Version 2 of NDS Auction module went live to facilitate bidding in primary Dated Securities auctions
11/02/2009 The CCIL Tenor Index was launched to capture the tenor wise movement across the term structure.
27/01/2009 Clearcorp launched 'Clearcorp Repo Order Matching System' (CROMS), a STP enabled electronic anonymous order matching platform to facilitate dealing in market repos in government securities. CROMS facilitates dealing in two kinds of Repos viz. Basket Repos and Special Repos for T+0 and T+1 settlement tenors.
01/01/2009 CCIL launched the CCIL Certification Programme (CCP), an online testing and certification programme.
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27/11/2008 CCIL commenced Non-Guaranteed Settlement of OTC Trades in Rupee Derivatives.
26/06/2008 Launch of Designated Settlement Bank (DSB) module, following RBI’s decision to offer current account at DAD only for entities regulated by them.
Date Title
10/09/2007 Version 2.0 of NDS-CALL electronic screen-based quote driven dealing system for Call, Notice & Term money was launched. The enhancements include User hierarchy with multiple user levels with pre set role privileges and risk mitigation measures such as assigning Single Order Limit and setting up of exposure limits for Counterparties at various levels.
30/08/2007 CCIL's reporting platform for the transactions in OTC Interest Rate Derivatives (Interest Rate Swaps and Forward Rate Agreements (IRS/FRA)) became operational.
03/07/2007 CCIL started releasing the Daily Spot Reference Rates through it's website.
21/05/2007 Version 3.0 of the NDS-OM was launched enabling Odd Lot trading, trading of new securities in the When Issued market and trading of CSGL entities on this platform.
05/03/2007 The eNotice System extended to Non-NDS Associate Members.
25/01/2007 CCIL launched the CCIL MIBOR (CCIL Mumbai Inter-Bank Offer Rate)/MIBID (CCIL Mumbai Inter-Bank Bid Rate) based on Dealt Quotes from NDS-Call.
16/01/2007 Euroclear and The Clearing Corporation of India Limited (CCIL) signed a Memorandum of Understanding (MOU) regarding post-trade processing collaboration.
Date Title
18/09/2006 NDS - CALL, an electronic screen-based quote driven dealing system for all Call, Notice and Term Money operations was launched.
11/09/2006
Launch of Intraday Securities Withdrawal in CBLO segment.
04/09/2006 CCIL launched its eNotice System available to all members for sending their collateral notices in electronic form.
04/09/2006 CCIL released its CCIL ALL SOVEREIGN BOND INDICES (CASBI), which would reflect the broad movement of the market as it contains all available sovereign bonds. The base date of the index is January 1, 2004.
01/08/2006 CCIL receives the ISO/IEC 27001:2005 certification for securing its information assets.
31/07/2006 Version - 2.0 of the NDS - OM Trading Platform launched, enabling trading in Treasury Bills and the When Issued market.
20/03/2006 CCIL has launched Overnight Collateralised Benchmark Reference Rates for Indian market, namely CCIL Collateralised Benchmark Bid Rate (CCBID) and CCIL Collateralised Benchmark Offer Rate (CCBOR). The rates are disseminated at 10:10 A.M. from Monday to Friday. The historical data is available in CCIL website (http: //www.ccilindia.com) from January 2004.
Date Title
16/08/2005 CCIL commenced Non-Guaranteed Settlement of OTC Trades in Rupee Derivatives.
01/08/2005 RBI launched the anonymous screen based order matching trading module for govt. securities on its Negotiated Dealing System–Order Matching Segment (NDS-OM) with CCIL as the central counterparty to all deals.
02/05/2005 CCIL released its T-Bill Index consisting of two T-bill indices – CCIL EQUAL WEIGHT T-Bills INDEX and CCIL LIQUIDITY WEIGHT T-Bills INDEX. The CCIL T-Bills Indices are instruments that would capture the market movement in the short term maturity segment.
06/04/2005 Commenced settlement of cross currency transactions through CLS.
07/02/2005 Started releasing intra-day comparitive money market rates of Call, Repo and CBLO markets on its website.
31/01/2005 Released its Sovereign Bond Indices,CCIL BROAD GILTS INDEX, Consisting of top 20 securities and CCIL LIQUID GILTS INDEX, consisting of the 5 most liquid bonds, to track the movement of the government securities market.
Date Title
14/10/2004 Govt. Securities Lending and Borrowing Scheme was operationalised.
27/08/2004 Started clearing and settlement of ATM transactions of National Financial Switch operated by Institute for Development and Research in Banking Technology (IDRBT).

01/08/2004

Rakshitra frequency enhanced from quarterly to

15/06/2004

Operationalised “Straight Through Processing” arrangement for settlement of foreign exchange trades done on FXCLEAR.

02/04/2004

Commenced net settlements in Government Securities as per DVP III Guidelines of Reserve Bank of India.

05/03/2004

Non-NDS Members commence CBLO operations.

05/02/2004

Extended scope of coverage of foreign exchange settlements to include INR/USD Cash and TOM trades.
Date Title
18/10/2003 Electronic movement of Member Margins / Collaterals facilitated through “Value Free Transfer Module” of NDS.
07/08/2003 Launched Electronic Currency Dealing Platform “FX Clear” to facilitate inter-bank foreign exchange dealing.
19/07/2003 Operationalised Anonymous Auction System to facilitate Buy Back of Government Securities by Government of India.
04/06/2003 Set up a wholly owned Subsidiary Company – Clearcorp Dealing Systems (India) Pvt. Ltd. to manage dealing platforms in Money and Currency Markets.
01/04/2003 All trades in the securities settlement routed through CCIL.
15/02/2003 Commenced publication of Zero Coupon Yield Curve on Website.
20/01/2003

Launched new Money Market Instrument – “Collateralised Borrowing and Lending Obligation” (CBLO) a repo variant with several unique features for NDS Members.

Date Title
08/11/2002 Commenced guaranteed settlement of inter-bank foreign exchange Spot trades in INR/USD and Forward Trades on Spot Window.
25/10/2002 Started publication of “Weekly Market Update” containing weekly statistics and analysis of settlement information and important market developments.
17/10/2002 Launched Quarterly Publication “Rakshitra” containing articles in relevant operational areas as also detailed statistics and analysis of settlement information.  
10/04/2002 Extended facility of guaranteed settlement for trades in Government Securities.
15/02/2002 Commenced clearing and settlement of market trades in Government Securities co-terminus with operationalisation of Reserve Bank of India’s Negotiated Dealing System (NDS).
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30/04/2001 Incorporated as India's first clearing house for settlement of market trades in Government Securities and inter-bank foreign exchange transactions.