CCIL Full Form | What is the full form of CCIL

CCIL Full Form - Clearing Corporation of India Limited

 Clearing Corporation of India Limited

Clearing Corporation of India Limited

  • CCIL stands for Clearing Corporation of India Limited. It's a reputed Indian organization which was set up in April 2001 to provide guaranteed clearing and settlement functions for transactions in money, exchange and derivative markets.
  • It was incorporated with the authorized Equity Share Capital of Rs. 50 Crores.
  • As of March 2018 Mr. R Sridharan is that the director of CCIL and its head office is in Mumbai, Maharashtra.
  • A core committee was appointed at the behest of reserve bank of India ( RBI ) to set up CCIL.
  • Its vision is to be a pivotal financial market infrastructure and its mission includes the following two points:
    • To promote safety, stability and efficiency using modern technology, risk management processes and practices matching or exceeding global standards
    • To promote research and collaborative thinking to shape the longer term of financial markets through innovation
  • Since its inception, CCIL has evolved continuously over the years to perform various roles within the financial market.
  • It's a totally owned subsidiary by the name of Clearcorp Dealing Systems Limited (CDSL), through this subsidiary it's introduced various platforms for electronic execution of deals in various market segments.
  • CDSL has also developed, implemented and controls the NDS-OM, an anonymous electronic trading system for dealing in G-Secs, and for reporting of OTC deals.
  • It also manages the NDS-CALL platform which supports electronic dealing within the Call, Notice and Term market.

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  • Since its inception, CCIL has achieved several significant milestones. Some of which are as follows:
    • On 17 October 2002, a quarterly publication "Rakshitra" containing articles in operational areas and detailed statistics and analysis of settlement information was launched.
    • On 20 January 2003, a new money market instrument called Collateralized Borrowing and Lending Obligation (CBLO) was launched for NDS members.
    • On 27 August 2004, it started clearing and settlement of ATM transactions of National Financial Switch managed by Institute for Development and Research in Banking Technology ( IDRBT ).
    • On 16 August 2005, the web trading system for Non-NDS members commenced operations.
    • In August 2006, CCIL received the ISO/IEC 27001:2005 certification for securing its information assets.
    • On 4 September 2006, CCIL released ccil ALL SOVEREIGN BOND INDICES (CASBI) to reflect the movement of the market.
    • On 3 July 2007, CCIL started providing the Daily Spot Reference Rates through its website.
    • On 11 February 2009, it had been granted authorization by the reserve bank of India under the "The Payment and Settlement Systems Act 2007".
    • On 29 June 2012, the web-based NDS-OM module for online trading within the secondary marketplace for Government Securities was launched.
    • On 1 January 2014, it received the status of a qualified central counterparty (QCCP) from the reserve bank of India.
    • On 6 April 2015, it launched the payment versus payment (pvp) mode of settlement within the Forex Settlement Segment to reduce the risk for members.
    • On 29 March 2017, it had been recognized as a "third-country CCP" under the european Market Infrastructure Regulation ("EMIR").

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