FX-Retail - Clearing Corporation Of India Limited

FX-Retail - Clearing Corporation of India Limited (CCIL)

The Reserve Bank of India in partnership with Clearing Corporation of India Limited (CCIL) has introduced a new platform called FX-Retail, which is an electronic forex rate booking platform for buying / selling foreign exchange. Let’s have a detailed look at this FX-Retail platform.

Introduction:-

Retail-FX platform has been developed by Clearcorp Dealing Systems (India) Ltd. (“Clearcorp”) - a wholly owned subsidiary of CCIL. This platform has been launched on August 05, 2019 and the platform can be accessed by HDFC bank customers through the website https://www.fxretail.co.in

This is an electronic platform where the customers can book the forex rates for their FX requirements. The objective of the platform is to provide an electronic platform for the retail customers where their FX orders can be matched anonymously and automatically.

All You Need To Know

Accessibility

Introduction of this electronic rate booking platform for buying/selling foreign exchange by retail customers of banks (Individuals, Corporates, Trusts, Cooperative Banks, Foreign Portfolio Investors, Foreign Institutional Investors etc.)

Flexibility of Delivery

FX-Clear platform provides access to the ongoing SPOT rates in the Inter-bank market, furthermore customers can book for value CASH (delivery on the same day), TOM (delivery on the next forex working day) and SPOT (delivery on the second forex working day).

Convenience

Providing the benefit of placing the trades at the customer’s own time and convenience. Customers can currently place orders for USD/INR currency pairs only.

Transaction Limit

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 HDFC Bank. Further, the transaction charges levied by CCIL are waived off for transactions up to USD 50,000 per day.

FX-Retail - Clearing Corporation of India Limited (CCIL)

All You Need To Know

Features

Accessibility

Flexibility of Delivery

Convenience

Transaction Limit

How to register

Fees and Charges

Need Help?