CROMS - clearcorp
platforms
CROMS
Introduction
“Clearcorp Repo Order Matching System” is an anonymous trading system facilitating dealing in Market Repos (i. e. borrowing/lending funds against Central Govt. and State Govt. securities).The market repos traded OTC are also reported in CROMS for settlement to CCIL. “Govt. Securities Lending Transaction-GSLT” functionality available in the system allows borrowing one security against another security.
Features
- CROMS facilitates borrowing/lending in Basket repos. Through basket repo, a member can borrow against any one of the security forming part of the basket. In basket repo the first leg consideration is computed based on Dirty Price of the security wherein the amount actually borrowed/lend does not exceed member requirement.
- CROMS has a stock balance utility. Any borrowing order placed is validated against the stock balance of the security. Hence there is no chance of borrowing against wrong security.
Benefits
- Basket repo facilitates borrowing/lending based on money value.
- Wider market access; level playing field for all.
- Immediate dissemination of market info.
- Lower transaction cost.
- Automated STP (Straight Through Processing) for Settlement.
