FX-CLEAR, a forex dealing system, which was launched by Clearcorp on August 7, 2003, offers two modes of dealing i.e. Order Matching mode and Negotiation mode.

The platform provides for trading in the following instruments:

a. SPOT (Interbank SPOT, Reference rate SPOT, Customer SPOT)
b. Short tenor Swaps viz Cash/Tom, Cash/Spot, Tom/Spot
c. Long tenor swaps (Spot over 35 months)
d. Month over Month (Month 1 end over Month 2 end)
e. Outright forward (Month 1 end and Month 2 end)
f. Rolling Month Swaps (Spot over 1st, 2nd, 3rd, 6th, 9th, 12th 15th, 18th, 21st, 24th, 30th, and 35th month)
g. Quarter-end-over Quarter-Start
h. Month to Month (12th Month over 18th Month end, 12th Month over 24th Month end)
i. Future rolling forward (12th Month /18th Month, 12th Month /24th Month)

The platform offers guaranteed settlement from the point of trade for all the trades concluded on the Order Matching Mode of the platform, wherein these trades are automatically sent to Clearing Corporation. Accordingly, Clearing Corporation (CCIL) is the Counterparty for these Trades.