Segments

Triparty Repo system operates on a Straight through Processing (STP) environment. The trade flows from Clearcorp’s “TREPS” i.e Triparty Repo Dealing System seamlessly to CCIL for Clearing and Settlement. The trades received by CCIL are novated and netted for funds settlement along with outright and market repo trades. 

A. Securities Settlement of Tri-Party Repo Trades As a Tri-Party Agent

a) All Tri-Party Repo trades i.e. 1st legs and 2nd legs of each member due for settlement on a settlement date shall be netted on a multilateral net basis.  

b) Total value of securities receivable (towards its net lending) or deliverable (towards its net borrowing) shall be determined for each Member.

c) Face Value of Securities for the amount to be delivered shall be debited to the Borrower’s GILT account with CCIL for value equivalent to borrowing position prior to commencement of funds settlement and credited to the CCIL settlement GILT account. 

d) On successful funds settlement for all members at RBI, the securities from CCIL settlement GILT account as above shall be credited to lender’s GILT account at CCIL for value equivalent to lending position for respective Member/ Associate Member.

e) In case of a funds shortage by any member, its securities receivable will be withheld and credited to the CCIL settlement withheld GILT account.     

f) The securities credited to the Lender’s GILT account shall not be available for withdrawal. The coupon due on such securities shall be paid to the Member contributing the securities i.e. borrower of funds.

B. Collaterals Details for Member:

A collateral holding statement detailing Cash / Securities contribution, Securities transferred towards Borrowing and securities received towards Lending shall be provided to all members.