INDIA INX

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Clearing & Settlement
The Clearing & Settlement of trades executed on the INDIA INX 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.

In case of trades executed on behalf of a Custodial Participant, the Clearing members of the said custodial participants need to confirm trades entered into on behalf of the Custodial Participants. Such trades need to be confirmed by the Clearing Members in such manner, within such time and through such facility as may be provided to Clearing Members from time to time. The trades which have been confirmed by Clearing Members will form part of the obligations of concerned Clearing Members and such Clearing Members shall be responsible for all obligations arising out of such trades including the payment of margins, penalties, any other levies and settlement of obligations. In case of trades which have not been confirmed by Clearing Members of the Custodial Participants the same shall be considered as trades pertaining to the Trading Members entering such trades and shall form a part of the obligations of Clearing Members, who clear and settle for such Trading Members.