Segments

Clearing & Settlement Procedure 

Outright Trades and Repo trades flow online to the Settlement system. They are subject to exposure check to verify adequacy of margins. When issued trades (Both Reissue and new issue) also flow to settlement systems online.

Settlement Procedure

The secondary market trades in Government securities received by CCIL for clearing and settlement are from Negotiated Dealing System - Order Matching (NDS-OM), Clearcorp Repo Order Matching System (CROMS) 

The trades are novated and multilateral netting achieved for each settlement date. The above process enables determination of a single funds obligation for each member across all Government security trades and Tri party Repo trades for that settlement date. The securities obligations are determined for each member for an ISIN separately for their SGL and CSGL account.

The Securities Funds Pay In Obligations payable by associate members is transmitted to settlement banks

The Settlement Bank shall process that file and transmit the confirmation file connoting completion of Securities Funds Pay In for the members

The Securities Pay In file is transmitted to RBI-PDO for debiting the SGL/ CSGL account of members. The Securities Settlement System at RBI shall debit the respective SGL/ CSGL account of members and credit CCIL Settlement Account at RBI.

The Combined Funds Pay In file ( Outright & Market Repo & Triparty Repo ) is then transmitted through E kuber for settlement. The system would debit / credit the respective members account.

On completion of funds settlement, security payout is executed for SGL / CSGL members.