The National Securities Depository Limited (NSDL) on October 14, 2024, issued an addendum to the NSDL Circular on Amendment to Business Rule of NSDL w.r.t Settlement Fees.
The following has been stated: -
•NSDL has issued a circular (NSDL/POLICY/2024/0143) on September 27, 2024, amending its business rules regarding settlement fees. This change aligns with SEBI's circular (SEBI/HO/MRD/TPD-1/P/CIR/2024/92) dated July 1, 2024, which focuses on "Charges levied by Market Infrastructure Institutions – True to Label".
•In essence, the amendment aims to bring transparency and standardization to settlement fees, ensuring that market infrastructure institutions clearly label their charges. This move promotes fairness and accountability in the market.
•Participants are advised to separately disclose the settlement fees charged by NSDL in their fee structure.
•Further, in case of any change in the charge structure, Participants are requested to ensure compliance with the NSDL Master circular for Depository Participants concerning the submission of the charge structure.
The detailed circular is given in the document below.
[Circular No. NSDL/POLICY/2024/0153]
