The Clearing Corporation of India Ltd. (CCIL) on February 14, 2025, notified regarding the Guaranteed Settlement for Rupee Interest Rate Swaps and Forward Rate Agreements.
The following has been stated namely: -
• Members are informed that Circular No. CCIL/DRV/IRS/1123/53 dated November 1, 2023, is revised to extend the residual maturity of CCP Clearing for Interest Rate Swaps (IRS) trades referenced to the MMFOR benchmark from 5 years to 10 years, effective March 17, 2025.
• This change aims to enhance the depth and liquidity of the MMFOR-linked IRS market, providing market participants with more extensive hedging and trading opportunities.
Detailed notification is attached below.
[Notification no. - CCIL/DRV/IRS/25/06]
