Description

NSE Clearing updates the list of empaneled customer banks for trading supported by blocked amount in secondary market, now including four banks: HDFC Bank, ICICI Bank, Canara Bank, and IndusInd Bank.

Summary

NSE Clearing Limited has issued a revised list of empaneled customer banks for trading supported by blocked amount in secondary market. This circular updates the earlier framework introduced in December 2023. The empaneled banks now include HDFC Bank Ltd., ICICI Bank Ltd., Canara Bank Ltd., and IndusInd Bank Ltd.

Key Points

  • Circular reference: 0341/2025 (Download Ref No: NCL/CMPT/70968)
  • Continuation of circular no. 0463/2023 dated December 28, 2023
  • Four banks are currently empaneled for blocked amount trading mechanism
  • Members can facilitate client trading using blocked amounts maintained with these banks
  • Contact for queries: collaterals_ops@nsccl.co.in or 1800 266 0050 (option 2)

Regulatory Changes

This circular provides an updated list of empaneled customer banks, revising the banks available under the blocked amount trading framework. The trading supported by blocked amount mechanism itself remains unchanged from the December 2023 go-live circular.

Compliance Requirements

  • Members must take note of the revised empaneled bank list
  • Trading supported by blocked amount can only be facilitated through the four listed banks
  • Members should ensure their operations align with the updated empaneled bank list
  • Any collateral arrangements for blocked amount trading must involve only these approved banks

Important Dates

  • Circular Issue Date: October 27, 2025
  • Reference to Previous Circular: December 28, 2023 (circular no. 0463/2023)

Impact Assessment

Market Impact: Medium - The circular provides clarity on which banks are currently empaneled for blocked amount trading, potentially affecting members’ choice of banking partners for this facility.

Operational Impact: Medium - Members using or planning to use the blocked amount trading facility need to ensure their banking arrangements are with one of the four empaneled banks. Members working with non-listed banks may need to adjust their arrangements.

Member Impact: The updated list consolidates options to four major banks, which may require some members to modify their operational setups if they were using or planning to use other banks for this mechanism.

Impact Justification

Updates empaneled bank list for blocked amount trading mechanism, affecting members' operational choices for client trading collateral arrangements but does not introduce new requirements or major policy changes