ClearCorp Dealing System, a subsidiary of the Clearing Corporation of India, went live with the FX retail platform. The platform, first of its kind in the world, will allow customers of banks (retail and corporate) to initiate and conclude their Foreign Exchange transactions electronically. The platform is the result of RBIs push towards making the financial markets in India the best in the world. The platform will also help SMEs get better rates for their FX transactions as it brings in transparency and efficiency.
Chella Software had worked closely with CCIL in developing the FX Retail platform. The platform is a derivative of Chella Software’s ActiveTrader(™) order management platform that is used by stock brokers and investors. FX Retail is used by over 65 banks and 4000+ corporates across the country.