Description
NSE Clearing announces modified schedule for client collateral segregation reporting due to Diwali Muhurat Trading session on October 21, 2025.
Summary
NSE Clearing Limited has issued a modified schedule for client collateral segregation reporting in connection with the Diwali Muhurat Trading session scheduled for Tuesday, October 21, 2025. This circular (NCL/CMPL/70862) provides adjusted cut-off dates for collateral holding dates from October 17-23, 2025. Members must adhere to the revised timeline as non-submission will be treated as non-compliance and attract penalties.
Key Points
- Modified reporting schedule issued for Diwali Muhurat Trading session on October 21, 2025
- References previous circular NCL/CMPL/70522 dated September 30, 2025
- Adjusted cut-off dates provided for six collateral holding dates
- Non-submission of client collateral will be treated as non-compliance
- Penalties will be applicable for non-submission
- Circular issued by Divya Potdar, Chief Manager, NSE Clearing Limited
Regulatory Changes
No permanent regulatory changes. This is a temporary schedule modification for the special Muhurat Trading session during Diwali festivities.
Compliance Requirements
Modified Reporting Schedule:
| Collateral Holding Date | Cut Off Date |
|---|---|
| October 17, 2025 | October 20, 2025 |
| October 18, 2025 | October 20, 2025 |
| October 20, 2025 | October 23, 2025 |
| October 21, 2025 | October 23, 2025 |
| October 22, 2025 | October 23, 2025 |
| October 23, 2025 | October 24, 2025 |
Requirements:
- All trading and clearing members must submit client collateral segregation reports according to the modified schedule
- Members must strictly adhere to the revised cut-off dates
- Timely submission is mandatory to avoid non-compliance penalties
Important Dates
- October 16, 2025: Circular issue date
- October 17-18, 2025: Cut-off date is October 20, 2025
- October 20-22, 2025: Cut-off date is October 23, 2025
- October 21, 2025: Diwali Muhurat Trading session
- October 23, 2025: Cut-off date is October 24, 2025
Impact Assessment
Operational Impact:
- Trading and clearing members must adjust their internal reporting systems and processes to accommodate the modified schedule
- The compressed timeline for certain reporting dates (October 17-18 both having October 20 cut-off) requires careful planning
- Members need to ensure adequate staffing and system readiness during the festival period
Market Impact:
- Limited market-wide impact as this is an operational compliance matter affecting member firms
- Ensures continuity of client protection measures during special trading sessions
- Standard practice for festival trading sessions to adjust administrative timelines
Compliance Impact:
- Non-compliance will result in penalties, emphasizing the importance of adherence
- Members should update their compliance calendars and alert relevant teams to the modified schedule
Impact Justification
Operational circular affecting clearing members' reporting timelines during special trading session. Medium impact as it modifies standard reporting schedules but is a routine adjustment for festival trading.