FX-SWAP, a forex swap dealing system, which was launched by Clearcorp on May 31, 2010, offers an order matching platform for forex swaps. This platform endeavors to provide a transparent and anonymous medium for trading in the highly broker driven swaps market by offering swap instruments extending up to 12 months along-with three upto spot instruments viz Cash/Tom, Cash/Spot, Tom/Spot, a LD/LD instrument (Month 1 end over Month 2 end) and two ORF instruments (Month 1 end and Month 2 end). FX-SWAP platform was launched with a unique feature of guarantee from the point of trades for the Forward Legs of the transactions concluded on the platform.
The new version of FX-SWAP platform launched w.e.f. 6th April 2015, extends the benefits of guaranteed settlement from the point of trade to all the legs of the trades concluded on the platform, including Cash, Tom, Spot and Forwards, wherein these trades shall be automatically sent to Clearing Corporation. Accordingly, Clearing Corporation (CCIL) shall be the Counterparty for these Trades.