SEBI Renews Licenses for NSE Clearing Ltd and Indian Clearing Corporation Ltd

SEBI Renews Licenses for NSE Clearing Ltd and Indian Clearing Corporation Ltd
SEBI Renews Licenses for NSE Clearing Ltd and Indian Clearing Corporation Ltd
SEBI Renews Licenses for NSE Clearing Ltd and Indian Clearing Corporation Ltd
SEBI Renews Licenses for NSE Clearing Ltd and Indian Clearing Corporation Ltd

SEBI Renews Licenses for NSE Clearing Ltd and Indian Clearing Corporation Ltd

SEBI Renews Licenses for NSE Clearing Ltd and Indian Clearing Corporation Ltd

The Securities and Exchange Board of India (SEBI) has announced that it has renewed the licenses of NSE Clearing Ltd and Indian Clearing Corporation Ltd for a three-year period. These renewed licenses will be valid until October 2, 2026. SEBI, the market regulator, expressed its satisfaction that renewing these licenses is in the interest of trade, the securities market, and the public.

Key Points:

License Renewal: SEBI has renewed the recognition of NSE Clearing Ltd and Indian Clearing Corporation Ltd as clearing corporations for a three-year period, starting on October 3, 2023, and ending on October 2, 2026.

Compliance with Conditions: Both NSE Clearing Ltd and Indian Clearing Corporation Ltd are required to comply with the conditions specified by SEBI from time to time. These conditions are designed to ensure the proper functioning and integrity of the clearing corporations.

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Ownership: NSE Clearing Ltd is a wholly-owned subsidiary of the National Stock Exchange (NSE), while Indian Clearing Corporation Ltd (ICCL) is a subsidiary of BSE (formerly known as Bombay Stock Exchange). ICCL is responsible for various clearing and settlement functions for BSE, including the settlement of trades across different segments.

Pioneering Roles: NSE Clearing Ltd, formerly known as National Securities Clearing Corporation Limited, was the first clearing corporation established in India, playing a significant role in introducing settlement guarantees to the Indian financial market. Similarly, ICCL, as part of BSE, carries out vital functions in clearing, settlement, collateral management, and risk management across various segments of the exchange.The renewal of licenses for these clearing corporations is crucial for the smooth and secure functioning of India’s financial markets, providing confidence to market participants and investors alike.

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