What is the role of MCXCCL in the trade settlement process?

What is the role of MCXCCL in the trade settlement process?

MCXCCL, or MCX Clearing Corporation Ltd., acts as a central counterparty to all trades. It ensures the financial settlement of trades, manages daily mark-to-market obligations, and oversees the delivery process for physically settled contracts. By guaranteeing trades, it eliminates counterparty risk for brokers and clients, provided that clients meet margin obligations through their brokers.