FX-Retail Platform by The Clearing Corporation of India Ltd
An electronic trading platform for buying or selling foreign exchange by retail customers of Banks
A trading platform is expected to provide transparency and at the same time enhance competition and lead to better pricing for the customers. In this connection, FX-Retail has been rolled out by the Clearing Corporation of India Limited (CCIL) as per the RBI vide circular dated 20/06/2019.
The FX-Retail platform provides for an anonymous and order driven dealing in the USD/INR currency pair. You can access the platform through the Internet to place buy/sell orders in the USD/INR currency pair as per your requirement. The FX-CLEAR Inter-bank Spot rates are also available on the platform for view purpose. You are required to get registered for availing access to the FX-Retail platform.
You can book contracts in:
- CASH (Same day currency settlement),
- TOM (Next day currency settlement),
- SPOT (Trade +2 days currency settlement) and
- FORWARD (Beyond SPOT currency settlement) instruments upto a period of 13 months including broken dates also.
There is no cap on the number of transactions per customer during a day. The total amount of transactions of a customer shall be subject to the limit assigned by its bank.
The size of a single transaction is not allowed to exceed $5 million.
As per Clearcorp Dealing systems (India) Ltd following charges are to be levied by the Banks from customers for usage of the FX Retail platform:
Schedule of Fees and Charges
|One time Customer Registration Charges
|a. Upto USD 50,000 in a day
|b. Above USD 50,000 in a day
||0.0004% on the entire Transaction value in INR terms *
* GST is applicable on the above charges
Customers may contact their home branch to ascertain details of Bank’s charges. Customers while registering on CCIL’s FX-Retail platform may note to mention Doha Bank QPSC as the Relationship Bank. Customers are requested to contact their Home Branch for submission of requisite documents for on-boarding & limits set up. For further details may write to firstname.lastname@example.org.
The FX-Retail platform can be accessed through the website https://www.fxretail.co.in and can obtain further details about the platform on the CCIL website (https://www.ccilindia.com)