>  About India ICC
About  India ICC

India International Clearing Corporation (IFSC) Limited (India ICC), a AAA rated clearing corporation, is a Securities and Exchange Board of India (SEBI) 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 Commenced clearing of Index & Single stock Derivatives January 16, 2017
2 Introduced FDRs issued by banks at IFSC as eligible collateral February 17, 2017
3 Commenced commodity futures clearing April 13, 2017
4 Commenced clearing of 10 additional single stock derivatives April 28, 2017 
5 Introduced inter commodity spread margin benefit May 18, 2017
6 Commenced clearing of EURUSD, GBPUSD and JPYUSD contracts June 05, 2017
7 Commenced clearing of 11 additional single stock derivatives June 30, 2017
8 Introduced multi-banking facility (collateral deposit / withdrawal facility) July 03, 2017
9 Commenced clearing 33 additional single stock derivatives August 04, 2017
10 Commenced clearing 53 additional single stocks and Gold KG futures contracts August 07, 2017
11 100% fixed deposits accepted as collateral towards additional deposits August 24, 2017
12 Commenced clearing Gold Options contracts August 30, 2017
13 Engaged with Clearstream Banking S.A. for clearing & settlement of debt securities October 02, 2017
14 Commenced clearing of Brent Crude Oil contracts October 31, 2017
15 SWIFT messaging system implemented December 10,2017
16 Acceptance of Bank Guarantees towards additional collaterals February 21, 2018
17 Certified with ISO/IEC 27001:2013 March 30, 2018
18 Rated ‘AAA’ by CARE Ratings April 05, 2018
19 Introduced AAA international sovereign securities as an eligible collateral June 27, 2018
20 Commenced clearing of India 50 weekly contracts November 23, 2018
21 CARE reaffirmed ‘AAA’ rating for India ICC December 20, 2018
22 Kotak Mahindra Bank-IBU activated as a first Professional Clearing Member January 14, 2019
23 Grant of Qualifying Central Counterparty (QCCP) status by SEBI January 25, 2019
24 Recognition by ESMA as a TC-CCP under EMIR May 06, 2019
25 Recognition by Bank of England as a TC-CCP May 29, 2019