The Clearing Corporation of India Ltd. (CCIL) on February 21, 2024, notified regarding the Changes to Forex Forward Regulations on account of the merger of FX-Clear and FX-Swap platforms with reference to the Notification bearing Ref No. Clearcorp/Legal/24/01 issued by Clearcorp Dealing Systems (India) Limited on the merger of the FX-Clear and FX-Swap platforms.
The notification states that the FX-Swap platform shall cease to exist and all the instruments being currently provided on the FX-Swap platform would thereafter be provided on the FX-Clear platform, post the merger.
Given the above, the Forex Forward Regulations of the Clearing Corporation of India Limited are also being amended to remove reference to the FX-Swap platform.
The Link for the updated Forex Forward Regulations - https://www.ccilindia.com/Membership/ByLawsDocs/Forex%20Forward%20Regulations.pdf
The changes to the Forex Forward Regulations shall be effective from March 18, 2024.
[Notification No. CCIL/Legal/24/03]
