Description
NSE Clearing adds JP Morgan Chase Bank to the list of approved banks for submitting Fixed Deposit Receipts as collateral in electronic form.
Summary
NSE Clearing Limited has added JP Morgan Chase Bank to the list of approved banks authorized to provide Fixed Deposit Receipts (FDRs) in electronic form as collateral for clearing members in the futures and options segment.
Key Points
- JP Morgan Chase Bank added to approved banks list for electronic FDR submission
- Electronic FDRs can be used as collateral by clearing members
- Members can register for email and SMS notifications for FDR addition and renewal
- Registration available through NMASS module under “Electronic Addition/Renewal of FDR”
Regulatory Changes
Expansion of approved bank list for electronic FDR facility from previous consolidated circular 043/2025 dated April 29, 2025.
Compliance Requirements
- Clearing members and custodians should note the addition of JP Morgan Chase Bank
- Members encouraged to register email IDs and mobile numbers in NMASS module
- Subscribe to “Electronic Addition/Renewal of FDR” notifications for updates
Important Dates
- Circular Date: August 8, 2025
- Effective immediately upon circular issuance
Impact Assessment
Minimal operational impact - provides clearing members with additional banking option for electronic FDR collateral submission, potentially improving efficiency and choice in collateral management.
Impact Justification
Routine addition of one bank to existing FDR facility with limited operational impact