Description
Indian Clearing Corporation Limited (ICCL) has declared 4A Securities Limited (SEBI Reg. No. INZ000246535) as a defaulter effective April 02, 2026, pursuant to a declaration by another Exchange/Clearing Corporation.
Summary
Indian Clearing Corporation Limited (ICCL) has declared 4A Securities Limited (SEBI Registration No. INZ000246535) as a defaulter effective April 02, 2026. This action is taken in terms of SEBI Circular No. SEBI/MIRSD/Master Cir-04/2010 dated March 17, 2010, following the member being declared a defaulter by another Exchange/Clearing Corporation.
Key Points
- 4A Securities Limited (SEBI Reg. No. INZ000246535) has been declared a defaulter by ICCL.
- The declaration is pursuant to SEBI Circular No. SEBI/MIRSD/Master Cir-04/2010 dated March 17, 2010.
- The trigger for ICCL’s declaration is the member having been declared a defaulter by another Exchange/Clearing Corporation.
- The effective date of the default declaration is April 02, 2026.
- All Clearing Members are advised to take note of this declaration.
Regulatory Changes
No new regulatory framework is introduced. The action is executed under the existing provisions of SEBI Circular No. SEBI/MIRSD/Master Cir-04/2010 (Master Circular on Membership — Registration, Administration and Supervision), which governs default declarations across exchanges and clearing corporations.
Compliance Requirements
- All Clearing Members must take note of the defaulter status of 4A Securities Limited.
- Members should review and manage any open positions, obligations, or exposures vis-à-vis the defaulting clearing member.
- Members should follow standard procedures for dealings with defaulting entities as prescribed under ICCL/SEBI regulations.
Important Dates
| Event | Date |
|---|---|
| Effective Date of Default Declaration | April 02, 2026 |
| Notice Date | April 07, 2026 |
Impact Assessment
The declaration of 4A Securities Limited as a defaulter carries high operational and settlement risk implications for counterparties. Clearing members who have outstanding trades or obligations with this entity should immediately assess exposure and initiate risk mitigation steps. ICCL will manage settlement of the defaulting member’s obligations through its default management framework. The broader market impact is limited to counterparties of 4A Securities Limited, but prompt action is required to contain any systemic risk.
Impact Justification
Declaration of a clearing member as defaulter has significant market integrity implications, directly affecting settlement obligations and counterparty risk for all members transacting with 4A Securities Limited.