The National Commodity & Derivatives Exchange Limited (NCDEX), on February 23, 2026, notified regarding the Margin benefit on Early pay-in of commodities.
The following has been stated namely: -
• NCCL is providing an ‘Early pay-in’ facility to market participants, permitting them to deposit certified goods in NCCL-approved warehouses against relevant futures contracts sold. For such short positions against which Early pay-in has been made, NCCL is exempting the imposition of all types of margins except the concentration margin. NCCL shall continue to collect mark-to-market margins from such market participants against such positions.
• Currently, the Early pay-in can be marked only after the relevant futures contract is sold and a position is created on the Exchange platform. Effective February 24, 2026, the market participants can mark an Early pay-in even before the relevant futures contract is sold, and the corresponding margin benefit shall be provided when the relevant futures contract is sold.
[Circular No: NCCL/CLEARING-010/2026]
