Description

NSE Clearing extends the custodian confirmation window in the Securities Lending & Borrowing Scheme from 18:00 hrs to 18:30 hrs on trade date, effective November 24, 2025.

Summary

NSE Clearing Limited has announced an extension of the custodian confirmation window in the Securities Lending & Borrowing (SLB) Scheme. The confirmation window timing is being extended from 18:00 hrs to 18:30 hrs on trade date, providing an additional 30 minutes for custodian confirmations. This change will be effective from November 24, 2025.

Key Points

  • Custodian confirmation window extended by 30 minutes
  • New window timing: Up to 18:30 hrs on trade date (previously 18:00 hrs)
  • Applies to Securities Lending & Borrowing Scheme transactions
  • References consolidated circular NCL/CMPT/67763 dated April 30, 2025
  • Applicable to all SLB participants and custodians

Regulatory Changes

No regulatory framework changes. This is an operational timing adjustment to provide additional time for custodians to confirm SLB transactions on trade date.

Compliance Requirements

  • Participants and custodians must note the extended confirmation window timing
  • Custodian confirmations can now be submitted until 18:30 hrs on trade date
  • No additional compliance obligations created by this change

Important Dates

  • Circular Date: November 21, 2025
  • Effective Date: November 24, 2025
  • New Confirmation Window: Until 18:30 hrs on trade date

Impact Assessment

This is a minor operational enhancement with minimal market impact. The extension provides custodians with additional time to process and confirm SLB transactions, potentially improving operational efficiency and reducing time pressure. No impact on trading mechanisms, settlement cycles, or participant obligations. The change benefits operational processes without affecting market structure or creating additional requirements.

Impact Justification

Minor operational change extending custodian confirmation window by 30 minutes. Does not affect trading rules or create new obligations, only provides additional time for existing process.