Interoperability among Clearing Corporations by NSE

Jun 13, 2019 | by Avantis RegTech Legal Research Team


The National Stock Exchange of India (NSE) on June 12, 2019, has issued a Circular regarding interoperability among Clearing Corporations.

Change in operational procedures: The members are requested to note that the changes in operational procedures including functionality of client or CP code modification and risk parameter files in cash market segment with reference to Circular no. NCL/CMPT/41192 dated May 31, 2019 will be effective from June 17, 2019.

Change in STT Report: Further to the Circular number NSE/FATAX/41263 dated June 07, 2019, based on the clarifications received in respect of applicability of Securities Transaction Tax (‘STT’) under interoperability framework among Clearing Corporations, the members shall receive common Securities Transaction Tax Report (MWST) instead of exchange-wise report. 

Nomenclature of reports: In order to facilitate members who are yet to implement interoperability, the files pertaining to NSE will be provided both with and without the exchange identifier in the file nomenclature.

Clarification on the file format in NCMS: Further to Circular no NCL/CMPT/41116 dated May 25, 2019; members are requested to note that some of the fields (highlighted) for trade txt file format as provided in will be blank in the file provided through NCMS.

Revision in timings for auction pay-in and file for direct payout to investors: Further to consolidated Circular no. NCL/CMPT/39831 dated January 01, 2019, the members are requested to note that with effect from June 20, 2019.

Discontinuation of CP code reallocation (RC) file: The RC modification file upload facility shall be discontinued from June 17, 2019.

[Circular No. NCL/CMPT/41295]

Click here to download the Circular.

 


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