Clearing & Settlement
The Clearing & Settlement of trades executed on the IIBX are cleared and settled through the INDIA ICC as per the guidelines issued by Securities and Exchange Board of India (SEBI) and as per the provisions of Byelaws, Rules and Regulations of INDIA ICC well as any other circulars/guidelines that may be issued in respect of the same from time to time.
The Clearing and Settlement is done on a netted basis as per the settlement obligations of the respective clearing members. All contracts are cash settled. The Clearing Members are responsible for all obligations, inter alia, including the payment of margins, penalties, any other levies and settlement of obligations of the trades entered by them as trading members and also of those trading members and custodial participants, if any, for whom they have undertaken to settle as a Clearing Member.