The Clearing Corporation of India Ltd.

(CCIL) was set up in April, 2001 for prov

iding exclusive clearing and settlement for transactions in Money, GSecs and For
eign Exchange. The prime objective has been to improve efficiency in the transac
tion settlement process, insulate the financial system from shocks emanating fro
m operations related issues, and to undertake other related activities that woul
d help to broaden and deepen the money, debt and forex markets in the country. T
he company commenced operations on February 15, 2002 when the Negotiated Dealing
System (NDS) of RBI went live. CCIL started providing the settlement of forex t
ransactions since November 2002. CCIL launched the Collateralised Borrowing and
Lending Obligation (CBLO) in January 2003, a money market product based on Gilts
as collaterals. It has developed a forex trading platform FX-CLEAR which went liv
e on August 7, 2003. CCIL has started the settlement of cross-currency deals thr
ough the CLS Bank from April 6, 2005. At the request of RBI, CCIL developed and
currently manages the NDS-OM and NDS-CALL electronic trading platforms for tradi
ng in the government securities and call money. It has also developed the NDS-Au
ction module for Treasury Bills auction by RBI. CCIL has received the ISO/IEC 27
001:2005 certification from M/s Det Norsk Veritas in 2006 for securing its infor
mation assets.
CCIL has introduced many innovative products/tools like ZCYC, Bond and T-Bills i
ndices, Sovereign Yield Curve, Benchmark reference rates like CCIL-MIBOR/MIBID a
nd CCBOR/CCBID, etc. CCIL regularly comes out with many publications for the ben
efit of the market participants.
The Core Committee, appointed at the behest of Reserve Bank of India for setting
up CCIL, identified six core promoters for CCIL-State Bank of India, IDBI Bank Lt
d.(formerly Industrial Development Bank of India), ICICI Bank Ltd, Life Insuranc
e Corporation of India (LIC), Bank of Baroda and HDFC Bank Ltd. The Company was
incorporated with the authorized Equity Share Capital of Rs. 50 Crores.

Promoted by large banks & financial institutions

Central Counterparty to trades in
1)Government Securities
2)Forex markets
3)Secure netting system

Following is the present Equity Shareholding pattern of the Company:

Serial No. Equity Shareholder Group Percent Holding

1 Banks 62.50
2 Financial Institutions 20.50
3 Primary Dealers 17.00
Total 100.00
Dr. R. H. Patil Chairman
Mr. Yeshwant S. S. Kapdi Managing Director
Mr. S. Venkiteswaran Director
Dr. Ajay Shah Director
Mr. A. V. Rajwade Director
Mr. Y. H. Malegam Director
Mr. K. R. Ramamoorthy Director
Mr. B. Balakrishna Shetty Director
Dr. N. L. Sarda Director
Mr. M. R. Ramesh Director
Mr. Pundarik Sanyal Director
Mr. Anjan Barua Director
Mrs. Shilpa Kumar Director
Mr. A D M Chavali Director
Mr. Bhavesh Zaveri Director
Dr. H Sadhak Director
Our IT Infrastructure
CCIL's business performance is backed by its Information Technology infrastructu
re. To this end, it has put in place efficient cutting edge IT solutions to perm
it extensive IT related applications in a seamless and secure operating environm
ent with adequate capacity redundancies, safeguards and critical recovery suppor
t mechanisms. In framing its IT related policies, CCIL has sought to provide a s
tate-of-the-art infrastructure for efficient and reliable service using open sta
ndard solutions. Its software requirements are being continuously addressed by d
esign and development of specific applications by M/s. Tata Consultancy Services
in close co-ordination with the concerned functional departments. This approach
has facilitated timely and dynamic solutions to the evolving business requireme
nts scaled to meet exacting member requirements.
CCIL has put in place a comprehensive Business Contingency Plan (BCP) for disast
er recovery in the event of any failure of its IT and/or operating environment a
t its corporate office. This constitutes the creation of an remote work site at
an alternative location in the city of Mumbai.It has also set up a fully operati
onal IT environment at Pune to meet any contingency of failure as part of Disast
er Recovery Plan. The relative data bases are continuously backed up to ensure t
hat the operations of CCIL will be efficiently carried out in the face of any ad
versity

Clearcorp Dealing Systems

Clearcorp Dealing Systems (India) Limited (Clearcorp), a wholly owned subsidiary
of CCIL, was incorporated in June, 2003 to facilitate, set up and carry on the
business of providing dealing systems/platform in Collateralised Borrowing and L
ending Obligation(CBLO), Repos and all money market instruments of any kind and
also in foreign exchange, foreign currencies of all kinds. Clearcorp has been se
t up to facilitate CCIL to segregate its other activities from the Clearing & Se
ttlement activity, a risk bearing activity. Accordingly, the Shareholders of CCI
L at their meeting held on June 4, 2003 resolved to transfer the activities of t
he Company relating to Forex Dealing Platform and Collateralised Borrowing and L
ending (CBLO) dealing platform to Clearcorp and the same has been made operation
al from January 1, 2004.