Introduction
CCIL has built the
Service for Analysis of Risk, Valuation and Margining (SARVAM). The solution
has been designed to provide ‘Valuation’, ‘Margining’ (both Variation Margin
(VM) and Initial Margin (IM)), ‘Collateral Management and Margin Maintenance’
and Risk Analytics services for NCCDs under its different modules.
At present, based on regulatory approval, SARVAM offers the
undernoted services:
- Trade Reporting
and creation of counterparty wise portfolio for various asset classes of NCCDs.
If trades are already reported to CCIL’s Trade Repositry (TR), a
consent would be obtained to take such reported trades for Valuation and
Variation Margin (VM) calculation
- Trades
reported and matched in CCIL TR till 9 p.m. on the reporting date ( T day)
shall be taken up for creation of counterparty wise portfolio and calculation
of VM
- Capture of
bilateral CSAs and valuation and VM computation based on the terms of bilateral
CSA
- Facility to
reconcile the VM difference with the bilateral counterparty, if required.
- Provision
of margin call reports and other Valuation/Risk Analytic reports on T + 1 basis
(around 10.00 a.m.)
- Recording
of Margin posted/received in Collateral Module
- Provision
of various other reports as may be notified by CCIL from time to time.