CBLO facilitates borrowing and lending for various tenors, from overnight up to a maximum of one year, in a fully collateralised environment.
4.26 FX-Clear:
FX-CLEAR, a forex dealing system, which was launched by Clearcorp on August 7, 2003, offers two modes of dealing i.e. Order Matching mode and Negotiation mode. FX-CLEAR covers the inter-bank US Dollar-Indian Rupee (USD- INR) Spot and Swap transactions and transactions in major cross currencies (EUR/USD, USD/JPY, GBP/USD etc.) The USD-INR deals constitute about 85% of the transactions of the total Forex transactions in India in terms of value.
The new version of FX-CLEAR platform launched w.e.f. 6th April 2015, offers guaranteed settlement from the point of trade for all the trades concluded on the Order Matching Mode of the platform, wherein these trades shall be automatically sent to Clearing Corporation. Accordingly, Clearing Corporation (CCIL) shall be the Counterparty for these Trades.
4.27 FX-SWAP
FX-SWAP, a forex swap dealing system, which was launched by Clearcorp on May 31, 2010, offers an order matching platform for forex swaps. This platform endeavors to provide a transparent and anonymous medium for trading in the highly broker driven swaps market by offering swap instruments extending up to 12 months along-with three upto spot instruments viz Cash/Tom, Cash/Spot, Tom/Spot, a LD/LD instrument (Month 1 end over Month 2 end) and two ORF instruments (Month 1 end and Month 2 end). FX-SWAP platform was launched with a unique feature of guarantee from the point of trades for the Forward Legs of the transactions concluded on the platform.
The new version of FX-SWAP platform launched w.e.f. 6th April 2015, extends the benefits of guaranteed settlement from the point of trade to all the legs of the trades concluded on the platform, including Cash, Tom, Spot and Forwards, wherein these trades shall be automatically sent to Clearing Corporation. Accordingly, Clearing Corporation (CCIL) shall be the Counterparty for these Trades.
4.28 NDS-OM:
The Reserve Bank introduced the Negotiated Dealing System-Order Matching system or NDSOM,as it is called, in August 2005. It is an electronic, screen based, anonymous, order driventrading system for dealing in Government securities. The Reserve Bank owns NDS-OM andCCIL maintains it. The platform is in addition to the existing facility of over-the-counter (OTC)or phone market in Government securities
The NDS-OM brings transparency in secondary market transactions in Government securities.Members can place bids (buy orders) and offers (sell orders) directly on the NDS-OM screen.The NDS-OM also facilitates straight-through-processing (STP), that is, all the trades on thesystem are automatically sent to the CCIL for settlement.
Participants on NDS-OM:There are two kinds of participants in NDS-OM:direct and indirect. Direct members havecurrent and SGL accounts with the Reserve Bank and settle their trades on NDS-OM directly.Indirect members are those players who do not have current and SGL accounts with theReserve Bank and therefore have to trade on NDS-OM through members who have theseaccounts with the Reserve Bank
4.29 CROMS:
Clearcorp Repo Order Matching System (CROMS) is an STP enabled anonymous OrderMatching Platform launched by the Clearcorp Dealing Systems (India) Ltd on 27th January2009 for facilitating dealing in Market Repos in all kinds of Government Securities.
It enables dealing in two kinds of Repos:
- Basket, and
- Special Repos.
4.30 Money Market Instruments:
Money Market means market where money or its equivalent can be traded. Money issynonymous with liquidity. Money Market consists of financial institutions and dealers inmoney or credit who wish to generate liquidity through short term borrowing and lending.
Money Market is a part of the financial market where instruments with highliquidity and very short term maturities are traded safely. In short, money market is a market where short term obligations such as treasury bills, commercial papers and banker’s acceptances are bought and sold.