Astroid - clearcorp
platforms
Astroid
Introduction
CCIL, under Rupee Derivatives Dealing Segment of its subsidiary, Clearcorp Dealing Systems (India) Limited (Clearcorp), launched a dealing platform (hereinafter called ASTROID- Anonymous System for Trading in Rupee OTC Interest Rate Derivatives) for Rupee Derivative Trades referenced to the MIBOR (O/N) benchmark on August 3, 2015. The trades dealt on the ASTROID are eligible for CCIL’s clearing and settlement services in accordance with Bye-laws, Rules and Regulations of Rupee Derivatives Guaranteed Settlement Segment.
Membership:
All the scheduled commercial Banks (excluding Local Area Banks & Regional Rural Banks), Standalone Primary Dealers, Mutual Funds, Insurance companies, Pension Funds, All India Financial Institutions (AIFIs), who are members of the Rupee Derivatives Guaranteed Settlement Segment of CCIL and have the approval from their respective sectoral regulators, are eligible to obtain membership and trade on the platform, subject to completion of documentation formalities.
Features
- Product Features:
The following parameters shall be applicable for trading on ASTROID.
Sr.No Parameters Description a) Session Parameters The System is available for trading from 09.00 am to 5.00 pm on all working days from Monday to
Benefits
- Straight through Processing: The trade flows from the ASTROID Dealing System seamlessly to CCIL for Clearing and Settlement and there is no separate reporting required.
- CCP Cleared: All trades done on the platform are CCP Cleared (Central Counter-party i.e CCIL).
- Anonymity: Participants can trade on the platform without revealing their identity to the counter party.
- Transparency: The real-time dissemination of data on rates provides transparency to the market.
- Guaranteed Settlement: Trades done in the platform are guaranteed by CCIL.
- Operational Efficiency: Trading on the platform reduces operational risk.
Reports
The following reports are available on the Rupee Derivatives Dealing System:
- Market Movement Report (.pdf format)
- Market Inquiry Report – (.pdf format)
- Trade Report- Instrument wise- (.pdf format)
- Trade Report- Instrument wise- (.csv format)
