The National Commodity & Derivatives Exchange Limited (NCDEX) on October 14, 2024, issued a circular regarding the Submission of Half Yearly Net worth Certificate as on September 30, 2024.
The Clearing Members are requested to comply with the following requirements:
• Half Yearly Net worth Certificate along with Statement of Computation of Networth as on September 30, 2024 based on unaudited financial statement should be submitted to the Clearing Corporation on or before November 30, 2024.
• Clearing Members are requested to upload all the above details as prescribed in an electronic format through the links made available on NCFE Portal. No physical copies should be submitted to the Clearing Corporation.
• Net worth Submission should be according to the Revised Net worth Requirement as per circular no. NCCL/MEMBERSHIP-001/2023 dated February 03, 2023 on Clarification to Gazette Notification of SEBI (Stock Brokers) (Amendment) Regulations, 2022.
• Clearing Members are requested to adhere and comply with the applicable Networth (i.e., higher of the Base Networth or Variable Networth) as stated in the SEBI gazette notification No. SEBI/LADNRO/GN/2022/73 dated February 23, 2022
• For Variable Net worth & Base Net worth requirements, method of computation & formats regarding Half-Yearly Networth Submission and Actions for Non-Compliance, kindly refer Annexures I and II respectively.
[Circular No. NCCL/Membership- 009/2024]
