Portfolio Compression for outstanding Forex Forward trades carried out on 6th March 2024

On 6th March 2024, CCIL successfully carried out the 16th cycle of the Portfolio Compression exercise in the Forex Forward market, aimed at reducing the overall notional outstanding and the number of outstanding contracts by identifying economically redundant trades for early termination. 7 large foreign, private and nationalized sector Banks participated in this exercise. Of the 1,272 trades between 7 members which were found to be eligible for being considered for compression, 907 trades were identified for early termination achieving a compression of over 71.31%. 824 trades were terminated fully while 83 trades were partially terminated. The reduction in market-wide Forex Position of 12,262 million was achieved through this portfolio compression exercise. The compression exercise included trades cleared by CCIL.