The National Stock Exchange (NSE) on May 27, 2024, issued a notification regarding the Discontinuation of Reporting of Trading Member-wise details of cash & cash equivalent collateral (referred to as Annexure 2).
The circular outlines updates and discontinuations in reporting requirements for trading members and clearing members as follows:
Previous Requirements:
Reports required:
Annexure 1: DP account-wise, Trading Member and client-wise, and ISIN-wise details of securities (Non-cash collateral).
Annexure 2: Trading Member-wise details of cash & cash equivalent collateral.
Discontinued Reporting:
As per the NSE circular dated March 13, 2024, the requirement for day-wise Client Level Cash and Cash Equivalent Balances reporting by trading members is discontinued.
Trading Member-wise details of cash & cash equivalent collateral (Annexure 2) reporting will be discontinued after the week ending June 1, 2024.
Continued Reporting:
DP account-wise, Trading Member and client-wise, and ISIN-wise details of securities (Non-cash collateral) (Annexure 1) must continue to be reported per NCL circulars dated May 20, 2019, July 3, 2019, and November 25, 2020.
Clearing members must continue to submit daily segregated client collateral reports to NCL as required by SEBI circular dated July 20, 2021.
Exemptions are as in Annexure 1 reports, clearing members are not required to report securities received from clients through pledge mode as per the SEBI circular dated February 25, 2020.
These changes aim to ease the compliance burden on members while ensuring accurate data submission for monitoring and supervisory activities.
[Notification No. NCL/CMPL/62167]
