Introduction

Clearcorp Repo Order Matching System (CROMS)

CROMS is a STP enabled electronic anonymous order matching platform launched on January 27, 2009 to facilitate dealing in market repos of government securities. This platform facilitates dealing in two kinds of repos viz. Basket Repo and Special Repo.

Basket Repo:The lender is assured of delivery of a liquid security from amongst the cluster of securities forming part of a specific basket, obviating the need for pre-specifying a security while initiating a repo order.
Special Repo:This is the conventional repo where lending of funds happens against a specific security.

Following are the features currently available on the CROMS platform:

• All OTC transactions in the repo market are reported on the CROMS platform.


• Re-repo transactions in government securities acquired through reverse repo by market participants permitted on the CROMS platform. Further, re-repo on securities received under Liquidity Adjustment Facility (LAF) LAF by Primary Member has also been facilitated on this platform.


• Order matching and repo trade reporting enabled on the CROMS platform between Primary member (PM) and its Gilts Account Holder and between two Gilts Account Holders of same PM.


• CROMS Web which facilitates direct market access of the Gilt Account Holders to the CROMS Order Book for Market Repos in Government Securities has been facilitated on this platform.