National Securities Clearing

CLEARING AND SETTLEMENT

National Securities Clearing Corporation Limited (NSCCL) undertakes clearing and settlement of all trades executed on the Futures and Options Segment of the NSE. It also acts as legal counter party to all trades on the Futures and Options segment and guarantees their financial settlement.

CLEARING ENTITIES

Clearing and Settlement activities in the F&O segment are undertaken by NSCCL with the help of the following entities:

CLEARING MEMBERS

In the F&O., segment, some members, called self clearing members, clear and settle their trades executed by them only either on their own account or on account of their clients. Some others, called trading member-cum- clearing member, clear and settle their own trades as well as trades of other trading members (TMs). Besides, there is a special category of members, called professional clearing members (PCM) who clear and settle trades executed by the TMs. The members clearing their own trades and trades of others, and the PCMs are required to bring in additional security deposits in respect of every TM whose trades they undertake to clear and settle.

 

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