MCX-SX Clearing Corporation Ltd.

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MCX-SX Clearing Corporation Ltd.
Logo mcxcl.gif
Founded 2003
Headquarters India
Products Clearing corporation
Web site www.mcx-sx.com

MCX-SX Clearing Corporation Ltd. (MCX-SX CCL) commenced operations and completed its first settlement on Feb. 17, 2009. It was the second clearing corporation to be based in India.

The Securities and Exchange Board of India (SEBI) approval for the clearing corporation was received on Jan. 2, 2009 and the RBI approval was received on Feb. 13, 2009.[1]

The main objects of the MCX-SX Clearing Corporation Ltd. is to act as central counterparty to all the trades and provide full novation and carry on the business of clearing and settlement of currency futures contracts.[2]

The clearing corporation has online connectivity with clearing banks, MCX Stock Exchange and clearing members to assist with co-ordination and smooth functioning. MCX Stock Exchange has 57 clearing members which includes banks and large corporates.

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