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About  India ICC

India International Clearing Corporation (IFSC) Limited (India ICC), a CARE AAA rated clearing corporation, is a Securities and Exchange Board of India (SEBI) recognised Qualified Central Counter Party, providing clearing & settlement and risk management services. It is a wholly owned subsidiary of the BSE and is located at the IFSC, GIFT City. India ICC commenced operations from January 16, 2017. It provides clearing & settlement, risk management and collateral management services to the India International Exchange (IFSC) Limited (India INX), a wholly owned subsidiary of the BSE operating at the IFSC, Gift City.

Milestones :

No. Milestone Date
1 Commenced operations by clearing Index & Single Stock Derivatives January 16, 2017
2 Introduced Bank Fixed Deposit Receipts, issued by banks at IFSC, as eligible collateral  February 17, 2017
3 Assigned Legal Entity Identifier (LEI) by CCIL June 30, 2017
4 Introduced multi-banking facility (collateral deposit / withdrawal facility) July 3, 2017 
5 Commenced clearing of Gold KG futures contracts August 7, 2017
6 Commenced clearing Gold Options contracts August 30, 2017
7 Engaged with Clearstream Banking S.A. for clearing & settlement of debt securities October 2, 2017       
8 Commenced clearing of Brent Crude Oil contracts October 31, 2017
9 HDFC Bank Ltd., empanelled as the fifth clearing bank of India ICC November 17, 2017
10 SWIFT messaging system implemented December 10, 2017
11 Commenced clearing & settlement for debt securities January 18, 2018
12 Acceptance of Bank Guarantees towards additional collateral February 21, 2018
14 Assigned CARE AAA (Is) rating by CARE Ratings April 5, 2018
15 Introduced AAA international sovereign securities as an eligible collateral June 27, 2018
16 Commenced clearing of India 50 weekly contracts November 23, 2018
17 CARE Ratings reaffirma 'AAA' rating for India ICC December 20,2018
18 Kotak Mahindra Bank-IBU activated as a first Professional Clearing Member January 14, 2019
19 Received recognition as a Qualified Central Counter Party (QCCP) from the Securities and Exchange Board of India (SEBI) January 25, 2019