BackSebi renews licences of NSE Clearing, Indian Clearing Corp for three years
The Securities and Exchange Board of India (Sebi) Thursday in gazette notifications said it has renewed the licences of NSE Clearing Ltd and Indian Clearing Corporation Ltd for three years and the licences will be valid till October 2, 2026
PremiumThe Securities and Exchange Board of India (Sebi) Thursday in gazette notifications said it has renewed the licences of NSE Clearing Ltd and Indian Clearing Corporation Ltd for three years and the licences will be valid till October 2, 2026.
The market regulator said it is satisfied that it would be in the interest of the trade, in the interest of securities market and also in the public interest to renew the licences of NSE Clearing Ltd and Clearing Corporation for three years.
The market regulator said it has renewed their recognition to function as clearing corporations "for three years commencing on October 3, 2023 and ending on October 2, 2026", the gazette notifications read.
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The NSE Clearing Ltd and NSE Clearing Ltd will have to comply with conditions specified by SEBI from time to time, the watchdog said.
NSE Clearing Ltd is a wholly-owned subsidiary of the National Stock Exchange (NSE) and Indian Clearing Corporation Ltd (ICCL) is an arm of BSE.
NSE Clearing Ltd (formerly known as National Securities Clearing Corporation Limited), a wholly owned subsidiary of National Stock Exchange (NSE), was incorporated in August 1995. It was the first clearing corporation to be established in the country and also the first clearing corporation in the country to introduce settlement guarantee.
Indian Clearing Corporation Ltd, a wholly owned subsidiary of BSE, was incorporated in 2007 ICCL carries out the functions of clearing, settlement, collateral management and risk management for various segments of BSE. ICCL settles trades reported on the Indian Corporate Debt Segment and the Mutual Fund Segment of BSE and clears and settles trades executed on all the other segments of BSE, including Equity Cash, Equity Derivatives, BSE SME, Offer for Sale, Securities Lending & Borrowing, Debt Segment, Interest Rate Futures and the Currency Derivatives Segment.
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