Description
ICCL announces disruption in settlement activities due to technical issues at one of the Member Insurance Institutions (MIIs) and provides coordination update.
Summary
Indian Clearing Corporation Limited (ICCL) has reported disruption in settlement-related activities due to technical issues faced by one of the Member Insurance Institutions (MIIs). ICCL is coordinating with other MIIs to normalize settlement processes and is providing regular updates through ticker messages on the Member Extranet Portal.
Key Points
- Technical issues at one MII have caused disruption in ICCL’s settlement activities
- ICCL is in close coordination with other MIIs to resolve the situation
- Regular updates are being posted via ticker messages on Member Extranet Portal
- Members are requested to monitor the portal for updates
- Contact available at cm_settlements@icclindia.com for issues
Regulatory Changes
No regulatory changes announced in this circular.
Compliance Requirements
- Members must monitor ticker messages on Member Extranet Portal for settlement updates
- Members should contact their relationship manager or email cm_settlements@icclindia.com for issues related to settlement disruptions
Important Dates
No specific dates mentioned. Updates are being provided on an ongoing basis through the Member Extranet Portal.
Impact Assessment
This circular has high operational impact as settlement disruptions affect:
- Fund transfers between clearing members and ICCL
- Trade finalization and obligation fulfillment
- Liquidity management for all market participants
- Overall market operations and confidence
The coordination with alternate MIIs indicates efforts to minimize disruption, but members need to stay informed through regular updates to manage their settlement-related activities and obligations.
Impact Justification
Settlement disruptions affect all market participants and can impact fund transfers and trade finalization across the entire market ecosystem