MCXCCL has entered into an agreement with Multi Commodity Exchange of India Limited (MCX) to provide clearing and settlement services to MCX, whereby all trades executed on MCX will be cleared and settled by MCXCCL with effect from September 03, 2018.
MCXCCL shall guarantee settlement of all trades executed on MCX by assuming the counter party risk of the Clearing Members for all the trades done on MCX. MCXCCL shall guarantees its Clearing Members
- 1. Funds pay-out till marking of delivery and
- 2. Financial compensation (to make good losses of non-defaulting party) in case of default (in goods or funds pay-in) after marking of delivery
Clearing and Settlement Division of MCXCCL shall perform and monitor all activities relating to delivery and fund settlement through a well-defined settlement cycle.
MCXCCL has empaneled 10 Clearing Banks to provide banking services to the Clearing Members.
The members are requested to forward all their Clearing & Settlement related correspondence on the following address:
Multi Commodity Exchange Clearing Corporation Limited
Clearing & Settlement Department
CTS no. 255,
Exchange Square,
Suren Road, Andheri (East),
Mumbai – 400093,
Maharashtra, India