Description

NSE Clearing migrates collateral management services from CIM to NMASS platform, effective December 15, 2025. Members must create or modify roles before this date.

Summary

NSE Clearing Limited is discontinuing the Collateral Interface for Members (CIM) and migrating all collateral management services to NMASS (N-MASS) platform. This migration is part of NSE’s initiative to provide a single member interface. The CIM platform will be discontinued effective December 15, 2025, and all functionalities will be available exclusively on NMASS from that date.

Key Points

  • CIM platform will be completely discontinued on December 15, 2025
  • All collateral management functionalities migrating to NMASS with no process changes
  • Super Admin users can create or modify roles starting December 01, 2025
  • Three main service categories being migrated: Collateral Release, EMI, and Reports
  • User manual for NMASS functionalities provided in annexure
  • No changes to existing processes, only platform interface changes
  • Rights management through Super Admin user in NMASS

Regulatory Changes

No regulatory changes. This is an operational platform migration initiative by NSE Clearing to consolidate member services onto a single interface (NMASS).

Compliance Requirements

For Clearing Members and Custodians:

  1. Role Creation/Modification: Super Admin users must create or modify user roles in NMASS before December 15, 2025
  2. User Access Setup: Assign appropriate roles for the migrated services to relevant users
  3. Platform Transition: Transition from CIM to NMASS for all collateral management operations

Services Being Migrated:

1. Collateral Release:

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

2. EMI (Early Margin Intimation):

  • Cash Deposit
  • G-sec Deposit

3. Reports:

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

Important Dates

  • November 28, 2025: Circular issued
  • December 01, 2025: Super Admin users can start creating or modifying roles in NMASS
  • December 15, 2025: CIM services discontinued; all services available exclusively on NMASS

Impact Assessment

Operational Impact:

High Impact - This is a critical operational change affecting all clearing members and custodians in the currency derivatives segment.

Key Impacts:

  1. Platform Transition: All users must migrate from familiar CIM interface to NMASS
  2. User Management: Super Admin users must proactively set up roles and permissions before deadline
  3. Risk of Service Disruption: Failure to complete role setup before December 15, 2025 will result in operational challenges and inability to access collateral management services
  4. Training Requirements: Users may need familiarization with NMASS interface, though processes remain unchanged
  5. Single Interface Benefit: Long-term benefit of consolidated platform for all member services

Affected Parties:

  • All clearing members in currency derivatives segment
  • Custodians
  • Portfolio Clearing Members (PCM)
  • Super Admin users (immediate action required)

Support Contact:

Mitigation:

Members are strongly advised to complete role creation and user setup well before the December 15 deadline to ensure smooth transition and avoid any operational disruption to critical collateral management functions.

Impact Justification

Critical operational change affecting all clearing members and custodians. Requires mandatory action before December 15, 2025 to avoid service disruption. Migration impacts core collateral management functions including collateral release, EMI, and reporting.