The National Stock Exchange (NSE) on December 29, 2023, issued a notification regarding the Daily submission of the Holding Statement.
This is further to the Exchange circular regarding the daily submission of the Holding Statement. As per the existing functionality, in case of submission of nil holding of clients’ securities, Members are required to submit a declaration “No client securities held during the day” to the Exchange through the Member portal daily.
To ease the compliance of the Members, Exchange has decided to replace the aforesaid daily declaration requirement with One Time Nil Holding declaration for which new functionality has been introduced in the Member portal.
In case of submission of nil holding of clients’ securities, Members shall be required to submit a One-time Nil Holding declaration on T+1, which shall stand valid until the next holding statement submission. However, Non-submission of One Time Nil Holding Declaration within the due date shall be treated as a non-submission of the Holding Statement. It may be noted that once the submission of the Holding Statement becomes applicable again (i.e. Client securities are held by the Member), the Member shall be first required to make Bulk Nil Holding submission through the Member portal for all the earlier dates for which there were no client securities holdings with Member and then proceed with the submission of Holding Statement through API as per the prescribed timeline of T+1.
Detailed User Manual for submission of NIL Holding Declaration and Bulk Nil Holding is attached as Annexure A and the said functionalities shall be effective from December 29, 2023.
[Notification No. NCL/INSP/60046]
