Indian Clearing Corporation Ltd (ICCL), an arm of BSE, has been granted renewal of recognition by markets regulator Sebi for a period of three years.
The three-year licence to ICCL is valid from October 3, this year till October 2020.
ICCL carries out the functions of clearing, settlement, collateral management and risk management for various segments of BSE.
Besides, it acts as the central counterparty to all the trades it provides clearing and settlement services for.
The clearing corporation is recognised under Sebi’s regulations for stock exchanges.
In a notification dated September 20, the Securities and Exchange Board of India (Sebi) said that it has granted extension to ICCL under Securities Contracts regulations.