A clearing member may deposit liquid assets in the form of cash, bank guarantees, fixed deposit receipts and approved securities and any other form of collateral as may be prescribed by MCCIL from time to time. These total liquid assets are segregated as cash component and Non-cash component
MCCIL provides settlement guarantee of all trades executed on ICEX by assuming the counter party risk of the Clearing Members through novation. Under the terms of novation, MCCIL guarantees funds pay-out to its Clearing Members till marking of delivery and financial compensation (to make good losses of non-defaulting party) in case of default (in goods or funds pay-in) after marking of delivery.
MCCIL monitors and performs all activities relating to Collateral, Delivery, Warehousing, Funds settlement. MCCIL also manages the Core Settlement Guarantee Fund (CSGF). MCCIL operates a well-defined settlement cycle and ensures no deviations or deferments from this cycle.
MCCIL accepts eNWRs (currently for Agricultural commodities) through both the repositories and also provides electronic delivery facility for non-agricultural commodities through its web based portal Electronic Debit & Credit Module (EDCM).
Members are requested to forward all their clearing & settlement related correspondence to the following address:
Reliable Tech Park, 403-A, B-Wing, 4th Floor, Thane – Belapur Road, Airoli, Navi Mumbai - 400708, India.