MCCIL carries out the clearing and settlement of the trades executed at the Currency derivatives segment of the Metropolitan Stock Exchange of India Ltd. Metropolitan Clearing Corporation of India Ltd. has presently empanelled ten Banks to provide clearing and banking services to its members.
Metropolitan Clearing Corporation of India Ltd. acts as legal counter-party to all settlement liability of Metropolitan Stock Exchange of India Ltd. and guarantee’s settlement. A Clearing Member (CM) of MCCIL has the responsibility of clearing and settling all the deals executed by their Trading Members (TM) on MSE.
Risk is inherent where events expected or unanticipated may happen and it may have an adverse impact on clearing and settlement of trades. Risk containment measures include monitoring of liquid net worth, collateral deposits, members positions and margin requirements, up dating risk parameters etc. in the system are monitored.