Sebi renews licences of NSE Clearing, Indian Clearing Corp for three years

NSE Clearing Ltd is a wholly-owned subsidiary of the National Stock Exchange (NSE)

Capital market regulator Sebi has renewed the licences of NSE Clearing Ltd and Indian Clearing Corporation Ltd for three years. The three-year licence will be valid till October 2, 2026, according to two separate gazette notifications issued on Wednesday.

NSE Clearing Ltd is a wholly-owned subsidiary of the National Stock Exchange (NSE) and Indian Clearing Corporation Ltd (ICCL) is an arm of BSE.

While considering the applications for renewal of recognition by NSE Clearing and ICCL, Sebi said it would be in the interest of the trade, in the interest of securities market and also in the public interest to do so.

The watchdog has renewed their recognition to function as clearing corporations "for three years commencing on October 3, 2023 and ending on October 2, 2026".

NSE Clearing and ICCL are responsible for clearing and settlement of all trades executed on NSE and BSE, respectively, as well as carry out deposit and collateral management, and risk management functions.