ClearCorp

All commercial Banks (excluding Local Area Banks & Regional Rural Banks), Primary Dealers, Mutual Funds, Insurance companies, Pension Funds, All India Financial Institutions (AIFIs), who are members of the Rupee Derivatives Guaranteed Settlement Segment of CCIL and have the approval from their respective sectoral regulators are eligible to trade on this platform, subject to completion of documentation formalities.

5.Which are the instruments available for trading on the ASTROID platform?

12 Overnight Index Swap (OIS) Standard instruments ranging from 1-Month to 10-Years with rolling maturities are available for trading on the platform.

6.What is the Cash-flow settlement Frequency of Trades executed through ASTROID platform?

In line with the FIMMDA guidelines, the cash-flow settlement frequency of OIS instruments traded on ASTROID platform with tenors up to one year is Bullet i.e. upon maturity, while for the OIS instruments with tenors greater than 1 year is semi-annual.

7.Which are the various reports available on ASTROID for Members?

Members of ASTROID have an access to various reports, which include Market Movement Report (pdf), Market Inquiry Report (pdf) and Trade Report – All Instruments (pdf and csv).

8.Are the trades concluded on ASTROID to be reported separately for settlement?

No, the trades concluded on ASTROID flow automatically for guaranteed settlement to the Rupee Derivatives Guaranteed Settlement Segment of CCIL.

9.How many Head of Treasury (HOT) IDs per member are permitted?

Only 1 active HOT ID per member is permitted.

10.How many Dealer/ Back Office IDs per member are permitted?

Mutiple active Dealer/ Back office IDs per member are permitted.

11.What are the permitted timings for Trading on ASTROID?

As per RBI guidelines, the Rupee OTC IRS trading is permitted from Monday to Friday 09:00 am to 05:00 pm.

12.Can Member users place orders with a Disclosed Quantity (DQ), which is less than the total order amount?

Yes, the users can place Bid/ Offer orders by mentioning the Disclosed Quantity (DQ). The minimum DQ is 10% of the total order amount being placed by the user.

13.Are the trades concluded on ASTROID guaranteed for settlement?

Yes, the trades concluded on ASTROID are guaranteed for settlement by The Clearing Corporation of India Limited. (CCIL)

14.Can a member cancel/ unwind a deal concluded on ASTROID?

At present, there is no functionality available on ASTROID to cancel/ unwind the deals concluded on the platform. However, CCIL conducts Portfolio compression exercise twice in a quarter, wherein the Members can submit their trades for compression.

15.What are Fees/ Charges for Trading on ASTROID?

The fees and charges effective from 01st October 2019 is Rs. 50/- (plus GST and applicable taxes) per new trade dealt on the platform. The fees and charges are subject to change.

16.What is the PV01 Neutral Spread Trading functionality on ASTROID?

Spread Trading functionality (available on ASTROID effective from 05th June 2023) allows trading in two instruments simultaneously, wherein there is a buy position in one tenor and sell position in another tenor with a notional combination such that the residual PV01 is near zero or very small at the time of placing the order.

17.Which are the instruments available for Spread trading on ASTROID?

11 instruments are made available for Spread trading on the ASTROID platform based on the feedback of the participating Member Banks.

18.Which are the 2 types of Spread Orders available on ASTROID?

Two types of Spread Orders available on ASTROID are (i) Intentional Spread Orders and (ii) Inferred Spread Orders.

19.What is an Intentional Spread Order on ASTROID?

Intentional Spread Order is a Bid/ Offer Spread order placed by a Member user in Spread Market Watch.

20.What is an Inferred Spread Order on ASTROID?

Inferred Spread Order is a spread order created from best orders of Normal Market Watch using two standard tenor instruments corresponding to the instruments permitted in the Spread Market, the notional amounts of which are in PV01 neutral ratio.

21.Do CSVs get generated for Spread Trades as well?

Yes, since each Spread Trade results into 2 normal trades, therefore 2 separate CSVs get generated for each of the 2 Normal Trades. The format of these CSVs is similar to the CSVs of the Normal trades.

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