Description

NSE Clearing Limited issues operational guidelines and step-by-step user manual for clearing members to submit half-yearly networth certificates as on September 30, 2025 through the NCL member portal.

Summary

NSE Clearing Limited (NCL) has issued Circular No. 30/2025 dated October 07, 2025, providing detailed operational guidelines for clearing members to submit their half-yearly networth certificates as on September 30, 2025. This circular continues from NCL/CMPL/70544 dated September 30, 2025, and provides a comprehensive step-by-step user manual for online submission through the NCL member portal at https://ims.connect2nsccl.com/NCLMemberPortal/.

Key Points

  • Submission required from all Clearing Members, Self Clearing Members, and Professional Clearing Members of NCL
  • Online submission through NCL member portal using dedicated Half Yearly Net Worth Submission module
  • Networth certificate must be uploaded in PDF format only
  • Two methods of computation available: Schedule VI of SEBI (Stockbrokers) Regulations, 1992 or RBI Method
  • Declaration from designated director/designated partners/proprietor/authorized signatory required in prescribed format
  • Submission subject to verification and approval by NCL
  • Members, Member Code, As on Date, and submission period fields are auto-populated
  • Email/intimation sent to members upon approval or rejection of submission

Regulatory Changes

No new regulatory changes introduced. This circular provides operational guidelines for existing continuing membership norms of NCL requiring half-yearly networth certificate submissions.

Compliance Requirements

Mandatory Submissions

  • Half-yearly networth certificate as on September 30, 2025
  • Scanned copy of networth certificate and computation in PDF format
  • Declaration from designated director/designated partners/proprietor/authorized signatory

Networth Shortfall Procedures

  • If networth falls short of minimum required, initial certificate as on September 30, 2025 must be submitted under “Net worth Certificate and Computation” field
  • Revised networth certificates showing compliance with minimum requirements must be submitted subsequently in “Upload Additional Scan Copy” field
  • Non-submission of revised networth considered as non-submission to NCL

Special Disclosure Requirements

  • If reported networth is less than minimum required, reason must be provided
  • If reported networth shows variation of 25% or more compared to last half-yearly networth, explanation required in “Upload Additional Scan Copy” field

Submission Process

  1. Login to https://ims.connect2nsccl.com/NCLMemberPortal/ with User ID, Member Code, Captcha, and Password
  2. Navigate to Compliance tab > Half Yearly Net Worth Submission
  3. Select year 2025 and click “Add New Net worth”
  4. Fill all mandatory fields
  5. Upload scanned networth certificate (PDF only)
  6. Use “Save as Draft” to save progress (generates reference number but does not submit)
  7. Click “Proceed for Declaration” and submit required declaration
  8. Click “Submit” button to complete submission to NCL

Verification and Approval

  • All submissions subject to NCL verification
  • Status visible on member dashboard and Half Networth Report MIS module
  • Approved submissions: Status shows “Approved” with email notification
  • Rejected submissions: Status shows “Rejected” with email notification; members must re-submit by clicking “Add New Networth”

Important Dates

  • Networth Certificate Date: September 30, 2025
  • Circular Issue Date: October 07, 2025
  • Reference Circular: NCL/CMPL/70544 dated September 30, 2025

Impact Assessment

Member Impact

  • High compliance burden: All clearing members must complete online submission process with proper documentation
  • Operational impact: Members experiencing networth shortfall must submit initial certificate plus revised certificates showing compliance
  • Monitoring requirement: Members must track submission status on dashboard and respond to rejections promptly
  • Risk of penalties: Non-submission or failure to address networth shortfall may impact membership status

Market Impact

  • Ensures financial adequacy of clearing members, strengthening market integrity
  • Networth shortfalls reflected on dashboard provide transparency to NCL for risk management
  • Systematic verification process helps identify members facing financial stress
  • 25% variation threshold enables early detection of significant financial changes in member firms

Impact Justification

Mandatory compliance requirement for all clearing members with specific submission deadline and potential consequences for non-compliance or networth shortfall