The Clearing Corporation of India Limited (CCIL) on February 14, 2025, revised the Default Handling for trades referenced to MIBOR and MIOIS Benchmarks.
It is stated that the default handling process for trades referenced to MIFOR & MMFOR benchmark was notified to members vide CCIL’s Notification No. RMD/DRVT/23/05, dated February 14, 2023 and the default handling process for trades referenced to MIBOR and MIOIS was notified to members vide CCIL’s Notification No. RMD/DRVT/20/78 dated December 31, 2020.
The default handling process for the MMFOR benchmark has been revised in line with amendments to Chapter VII of the Rupee Derivatives segment Regulations. The updated process now applies to all trades referenced to benchmarks, including MIBOR and MIOIS. As a result, the previous notification (RMD/DRVT/20/78 dated December 31, 2020) has been revised, with changes underlined and deletions marked in strikethrough font.
For further information, please refer to the document provided below.
[Notification No: RMD/DRVT/25/09]
