Introduction
FX-CLEAR
FX-CLEAR, a
forex dealing system, which was launched by Clearcorp on August 7, 2003, offers
two modes of dealing i.e. Order Matching mode and Negotiation mode. The
facility for trading in the FBIL USD/INR Reference Rate is available on the
platform.
With effect from
March 18, 2024, swap instruments extending up to 12 months along-with three up
to spot instruments viz Cash/Tom, Cash/Spot, Tom/Spot, a LD/LD instrument
(Month 1 end over Month 2 end) and two ORF instruments (Month 1 end and Month 2
end) has been introduced on the platform.
The platform
offers guaranteed settlement from the point of trade for all the trades
concluded on the Order Matching Mode of the platform, wherein these trades are
automatically sent to Clearing Corporation. Accordingly, Clearing Corporation
(CCIL) is the Counterparty for these Trades.
.