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About  India ICC

India International Clearing Corporation (IFSC) Limited (India ICC), a AAA rated clearing corporation, is a IFSC Authority recognised Qualified Central Counter Party (QCCP), providing clearing & settlement and risk management services. India ICC commenced operations from January 16, 2017. It provides clearing & settlement, risk management and collateral management services to the India International Exchange (IFSC) Limited (India INX) at the IFSC, GIFT City.

Milestones :

No. Milestone Date
1 CARE Ratings Ltd. reaffirms CARE AAA (Is) rating to India ICC July 01, 2020
2 Introduction of Rupee based derivatives at India INX May 08, 2020
3 State Bank of India empanelled as Clearing bank of India ICC November 08 2019
4 CARE Ratings Ltd. reaffirms CARE AAA (Is) rating to India ICC October 03, 2019
5 Recognition by Bank of England as a TC-CCP May 29, 2019
6 Recognition by ESMA as a TC-CCP under EMIR May 06, 2019
7 Grant of Qualifying Central Counterparty (QCCP) status by SEBI January 25, 2019
8 Kotak Mahindra Bank-IBU activated as a first Professional Clearing Member January 14, 2019
9 CARE reaffirmed ‘AAA’ rating for India ICC December 20, 2018
10 Commenced clearing of India 50 weekly contracts November 23, 2018
11 Acceptance of AAA rated international sovereign securities towards collateral June 27, 2018
12 Issued Operating Guidelines for Segregated Nominee Account Structure  June 11, 2018
13 Assigned CARE AAA (Is) rating by CARE Ratings Ltd. April 05, 2018
14 Acceptance of Bank Guarantees towards additional collaterals February 21, 2018
15 Commenced clearing & settlement for debt securities  January 18, 2018 
16 SWIFT messaging system implemented December 10,2017
17 HDFC Bank empanelled as the fifth Clearing bank of India ICC  November 17, 2017 
18 Commenced clearing of Brent Crude Oil contracts October 31, 2017
19 Engaged with Clearstream Banking S.A. for clearing & settlement of debt securities October 02, 2017
20 Commenced clearing India INX Gold Options contracts  August 30, 2017
21 Commenced clearing of India INX Gold KG futures contracts  August 07, 2017
22 Introduced multi-banking facility (collateral deposit / withdrawal facility) July 03, 2017
23 Allotted Legal Entity Identifier (LEI) number  June 30, 2017
24 Introduced Bank Fixed Deposit Receipts issued by IFSC Banking Units (IBU) as eligible collateral  February 17, 2017
25 Commenced operations by clearing derivatives on India INX - Futures and Options on S&P BSE SENSEX Index and S&P BSE SENSEX 50 Index and international individual equities / single stocks  January 16, 2017