Description

NSE Clearing discontinues Collateral Interface for Members (CIM) and migrates collateral management, EMI, and reporting services to NMASS platform effective December 15, 2025.

Summary

NSE Clearing Limited is migrating collateral management services from the existing Collateral Interface for Members (CIM) platform to the unified NMASS (NSE Member Administration and Settlement System) interface. The CIM platform will be discontinued effective December 15, 2025. All clearing members and custodians must configure user roles and permissions in NMASS before this date to ensure uninterrupted access to collateral management functionalities.

Key Points

  • CIM platform being discontinued as part of single member interface initiative
  • All collateral management services migrating to NMASS platform
  • Super Admin users can create/modify roles starting December 01, 2025
  • Services will be discontinued in CIM on December 15, 2025
  • No changes to existing processes, only platform migration
  • Detailed user manual provided for NMASS functionalities
  • Applicable to all participants and custodians in Securities Lending & Borrowing Scheme

Services Being Migrated

Collateral Release

  • New Request/Inquiry
  • Data Export
  • File Upload
  • Download Return Files
  • Instruction wise File upload

EMI (Electronic Money/Cash Interface)

  • Cash Deposit
  • G-sec Deposit

Reports

  • Quantity Breach Report
  • Direct Pledge Securities Report
  • Data Export

Compliance Requirements

For Clearing Members and Custodians:

  1. Role Configuration: Super Admin users must create or modify roles in NMASS to assign new collateral management services
  2. Timeline: Complete role setup between December 01-15, 2025
  3. User Access: Ensure all users requiring collateral management access have appropriate roles assigned in NMASS
  4. Testing: Verify access to all required functionalities before December 15, 2025
  5. Training: Review provided user manual (Version 2.0) for NMASS collateral management module

Rights Management:

  • Super Admin users have exclusive rights to assign roles for migrated services
  • Existing users will need role modifications to access services on new platform

Important Dates

  • November 28, 2025: Circular issued
  • December 01, 2025: Super Admin users can begin creating/modifying roles in NMASS
  • December 15, 2025: CIM services discontinued; all services live on NMASS (effective date)
  • Deadline: December 14, 2025 (last date to complete role configuration to avoid disruption)

Impact Assessment

Operational Impact:

  • High: All clearing members and custodians must take action to maintain service continuity
  • Risk: Failure to configure roles before December 15 will result in loss of access to critical collateral management functions
  • Disruption Potential: Members not completing migration may face operational challenges in collateral release, EMI deposits, and reporting

Business Impact:

  • Affects all collateral management operations including pledge, release, and monitoring
  • Impacts daily operations for Securities Lending & Borrowing Scheme participants
  • Cash and G-sec deposit functionalities critical for margin requirements

Technical Impact:

  • Platform consolidation improves member experience with single interface
  • No process changes reduce learning curve
  • User manual provided to facilitate smooth transition

Market Segments Affected:

  • Securities Lending & Borrowing Scheme (SLBS)
  • All clearing and settlement operations requiring collateral management

Contact Information

For queries:

Issued by: Huzefa Mahuvawala, Chief Risk Officer NSE Clearing Limited

Impact Justification

Critical system migration affecting all clearing members and custodians requiring mandatory role configuration changes before December 15, 2025 to avoid operational disruptions in collateral management services.