Description

NSE mandates trading members with Margin Trading Facility approval to submit compliance certificates by October 31, 2025, through ENIT portal as per SEBI regulations.

Summary

NSE has issued guidelines requiring trading members who have obtained approval for Margin Trading Facility (MTF) to submit compliance certificates for the half year ended September 30, 2025. Members who have commenced MTF must submit an auditor’s certificate, while those who have not commenced must submit a self-certified certificate. All submissions must be made through the ENIT portal by October 31, 2025.

Key Points

  • Trading members with MTF approval must submit compliance certificates for half year ended September 30, 2025
  • Members who have commenced MTF need auditor’s certificate signed by Chartered Accountant
  • Members who have not commenced MTF need self-certified certificate signed by Compliance Officer/Designated Director
  • Submission to be made through ENIT portal
  • ENIT portal link will be made available shortly with separate communication and user manual
  • Certificate must verify compliance with conditions prescribed in multiple NSE circulars

Regulatory Changes

This circular implements requirements under SEBI circular SEBI/HO/MRD-PoD2/CIR/P/2024/00181 dated December 30, 2024, Chapter 1, Para 4.10.3, which mandates half-yearly audit and certification of margin trading facility books of accounts.

Compliance Requirements

For Members Who Have Commenced MTF:

  • Get books of accounts related to MTF audited by Chartered Accountant
  • Submit auditor’s certificate (Annexure I format) through ENIT portal
  • Certificate must certify compliance with conditions specified in NSE circulars: NSE/COMP/35125 (June 15, 2017), NSE/COMP/35260 (June 30, 2017), NSE/COMP/35521 (August 03, 2017), NSE/COMP/36350 (November 22, 2017), NSE/COMP/63887 (September 12, 2024), and NSE/COMP/64519 (October 11, 2024)
  • Certificate must include UDIN number, CA membership number, and seal

For Members Who Have Not Commenced MTF:

  • Submit self-certified certificate (Annexure II format) on trading member letterhead
  • Certificate must be signed by Compliance Officer or Designated Director
  • Confirm that MTF was not provided to any client during the period

Important Dates

  • Reporting Period: Half year ended September 30, 2025
  • Submission Deadline: October 31, 2025
  • Circular Date: October 03, 2025
  • ENIT Portal Link: To be made available shortly

Impact Assessment

Operational Impact: Medium - Affects only trading members with MTF approval; requires coordination with auditors and timely submission through ENIT portal.

Market Impact: Low - This is a routine compliance and reporting requirement with no direct market trading impact.

Member Impact: Medium - Trading members must ensure timely audit completion and certificate submission to avoid non-compliance. New ENIT portal submission process requires familiarization with user manual once released.

Impact Justification

Routine compliance requirement affecting only trading members with Margin Trading Facility approval; requires timely submission of auditor certificate or self-certification by October 31, 2025