The National Stock Exchange (NSE) June 20, 2023, issued a notification regarding the Upstreaming of clients’ funds by Stock Brokers (SBs), Clearing Members (CMs) to Clearing Corporations (CCs) Segregation and Monitoring of Collateral at the Client Level.
Clearing Members may make note of the following operational procedures:
•Placement of FDRs as collateral with NCL
•Upstreaming via a pledge of units of Mutual Fund Overnight Schemes (MFOS)
•Addition and Release of Cash as collateral
•Allocation
•Release of Cash towards pay-in
•Release of Other Collaterals
•Reporting of Reasons for Collateral withdrawal
The above provisions shall be effective from July 01, 2023
[Notification No. NCL/CMPT/57227]
