Clarification on Interoperability among Clearing Corporations

May 22, 2019 | by Avantis RegTech Legal Research Team


The National Stock Exchange (NSE) on May 16, 2019, has clarified the issues regarding Interoperability among Clearing Corporations.

However, based on representations received from Members, NSE issued clarifications on the compliance issues arising out of Interoperability in the form of Frequently Asked Questions (FAQs).

The FAQs are prepared with a view to guide Members on the compliance issues arising out of Interoperability and the same may be updated from time to time.

The FAQ on Interoperability among Clearing Corporations are as under:

1. How will Client financial ledgers be maintained in view of the interoperability?

2. Will the format of Common contract note change?

3. How will the serial number be mentioned on the contract note if the same is issued Segment-wise?

4. Will the reporting under Margin Trading (MTF) change due to interoperability?

5. How will Register of securities (ROS) be maintained in view of the interoperability?

6. Whether, after interoperability, NRIs can buy/sell on one Exchange and square up on other Exchange(s) on the same trading day?

7. For the purpose of collection and reporting Margin/MTM losses, financial balances of which segment should be used?

8. What will be the implication on trading for a client if such client is registered only one Exchange?

[Circular Ref. No: 08/2019]

Click here to download the Circular.


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