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Features and Benefits

Features and Benefits

1.Product Features:

The following parameters shall be applicable for trading on ASTROID.

Sr. No. Parameters Description
a) Session Timings The System is available for trading from 09.00 am to 5.00 pm on all working days from Monday to Friday.
b) Market Movement
(i) Market Movement Information is available to the platform users after each interval of 60 minutes post opening of trading session (09:00 am) i.e. 10:00 am, 11:00 am, 12:00 pm, 1:00 pm, 2:00 pm, 3:00 pm, 4:00 pm and 5:00 pm

(ii) This information provides Open Rate, High Rate, Low Rate, Last traded rate, Weighted Average Rate, Traded Amount and Trade count during each 60 minutes session
c) Order Parameter (i) Orders of minimum lot size of Rs. 5 crore and in multiples of Rs. 5 crore thereof with a tick size of 0.0025% can be placed on the ASTROID platform.

(ii) Minimum disclosed quantity is 10% of the total order amount being placed by the trader.

2.Salient features of the ASTROID platform:

(i) Market by Order (MBO): The best five Bid and Offer orders based on the rate-time priority are displayed.

(ii) Market by Rate (MBR): The best five outstanding Bid and Offer rates and the cumulative quantity of one or more orders at each such best rate are displayed.

(iii) Market Inquiry: Displays the instrument wise market summary.

(iv) Total Trades: Displays the parameters of the trades executed till that time i.e instrument type, trade number notional amount and rate of all trades executed in the market.

(v) Rate Band: Rate band for the member to place an order is set at 100 bps w.r.t the previous day’s closing rate. The member user cannot place any orders with rates exceeding the rate band set by CCDS Admin.

(vi) Access: ASTROID Trading platform can be accessed through INFINET (Indian Financial Network) or Internet.

3. Other Benefits:

a. Straight through Processing: The trade flows from the ASTROID Dealing System seamlessly to CCIL for Clearing and Settlement and there is no separate reporting required.

b. CCP Cleared: All trades done on the platform are CCP Cleared (Central Counter-party i.e CCIL).

c. Anonymity: Participants can trade on the platform without revealing their identity to the counter party.

d. Transparency: The real-time dissemination of data on rates provides transparency to the market.

e. Guaranteed Settlement: Trades done in the platform are guaranteed by CCIL.

f. Operational Efficiency: Trading on the platform reduces operational risk.

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