The National Stock Exchange of India Limited (NSE) on April 30, 2024, issued a Test Market Environment - Consolidated Circular.
The following has been stated: -
•Exchange has been issuing various circulars from time to time for content relating to the Test Market Environment. This consolidated circular replaces the earlier consolidated circular NSE/MSD/57165 dated June 19, 2023, on the captioned subject. This consolidated circular is prepared which is a compilation of subsequent circulars related to the test market environment issued till March 31, 2024.
•This consolidated circular encapsulates regulations/instructions of all earlier circulars issued by Exchange from time to time and new instructions as applicable.
•In this regard, members are to note the following:
1. The facility shall hereafter be referred to as Test Market Environment.
2. All registered members shall be eligible to have 1 set of user IDs in the test market environment without any charges for connecting via existing modes of connectivity i.e. LL and Colocation facility. (A set shall comprise of 1 corporate manager ID, 1 branch manager ID, and 2 dealer IDs in each segment). Members have to apply to the Exchange for user IDs in the Format as per Annexure 1.
3. Registered members requiring an additional set of user IDs on existing modes of connectivity i.e. LL and Colocation, have to apply to the Exchange in the format as per Annexure 1 and pay charges of Rs. 50,000/- + applicable taxes per annum for each additional set. (A set shall comprise of 1 corporate manager ID, 1 branch manager ID, and 2 dealer IDs in each segment).
4. EVs/ASPs / FISVs shall be provided access to the test market environment using a dedicated lease line. The prerequisites and the process to be followed for providing access to Empanelled Vendors / ASP / FISVs are attached as Annexure 2.
This circular is valid for Emerge, Futures & Options, Currency Derivatives, Capital Market (Equities) Trade, Member Service Department, Securities Lending & Borrowing Scheme, and Commodity Derivatives segment.
The detailed circular is given in the document attached below.
[Circular Ref. No: 33/2024]
