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Indian Clearing Corporation Limited ("ICCL") has been promoted by BSE limited ("BSE") as its 100% owned subsidiary company, inter alia, to function as a Clearing Corporation. At present, ICCL undertakes clearing and settlement services for the Mutual Funds Segment and Corporate Debt Segment of BSE. ICCL also undertakes clearing & settlement functions of the Currency Derivatives Segment of United Stock Exchange of India Limited ("USE")