The Clearing Corporation of India Ltd. (CCIL) on October 27, 2023, issued a notification regarding the Collateral Work-Flow Procedure for Member Common Collateral (MCC).
The following has been stated namely: -
• The workflow process for the contribution and withdrawal of cash and securities, towards the Members Common Collateral has been detailed. The collateral(s) contributed maintained in the MCC shall be assigned towards members’ or its constituents’ margin requirement in Securities, Forex, Forex Forward, Continuous Linked Settlement (CLS), and Rupee Derivatives Segment(s) in terms of the provisions of the Regulations applicable to the respective business segment. Further, MCC contribution may also be used towards deficiency in members’ Default Fund/ Funds requirements, in terms of the applicable notifications/processes.
• The Procedure for the following Contributions and withdrawals have been stated namely: -
1. Funds Contribution/withdrawals
2. Securities Contribution/withdrawals
1. Annexure I states the form for Member Common Collateral - Notice of Contribution to be submitted by Member.
This is in effect from November 27, 2023
[Notification No. CCIL/OPS/MCC/2023-24/ 49]
