Description
NSE Clearing modifies client collateral segregation reporting deadlines due to trading holiday on January 15, 2026 for Municipal Corporation Election in Maharashtra.
Summary
NSE Clearing Limited has issued a circular regarding changes to the client collateral segregation reporting schedule due to a trading holiday declared on January 15, 2026 for Municipal Corporation Election in Maharashtra. The circular modifies cut-off dates for reporting to ensure compliance despite the holiday.
Key Points
- Trading holiday declared on January 15, 2026 due to Municipal Corporation Election in Maharashtra
- Modified reporting schedule affects trades from January 14-17, 2026
- Special provisions for commodity derivatives trading on January 15, 2026
- Non-submission of client collateral report will be treated as non-compliance with applicable penalties
- Circular issued by NSE Clearing Limited (Ref: NCL/CMPL/72311, Circular 01/2026)
Regulatory Changes
No permanent regulatory changes. This is a temporary operational adjustment to accommodate the trading holiday.
Compliance Requirements
Modified Reporting Schedule:
| Trade Date | Cut Off Date |
|---|---|
| January 14, 2026 | January 16, 2026 |
| January 15, 2026* | January 16, 2026 |
| January 16, 2026 | January 19, 2026 |
| January 17, 2026 | January 19, 2026 |
*Applicable only for commodity derivatives
Requirements:
- All members and custodians must adhere to the revised timelines
- Timely submission of client collateral segregation reports is mandatory
- Non-submission will result in penalties for non-compliance
Important Dates
- January 14, 2026: Circular issue date
- January 15, 2026: Trading holiday (Municipal Corporation Election in Maharashtra)
- January 16, 2026: Cut-off date for trades dated January 14 and 15
- January 19, 2026: Cut-off date for trades dated January 16 and 17
Impact Assessment
Operational Impact:
- Members and custodians need to adjust their reporting workflows for the specified dates
- Commodity derivatives segment continues trading on January 15, requiring special attention
- Two business days affected by schedule modifications
Compliance Impact:
- Failure to meet revised deadlines will attract penalties
- Members must ensure internal systems and processes accommodate the modified schedule
- No impact on trading operations beyond the declared holiday
Market Impact:
- Limited market impact as this is an administrative reporting adjustment
- Affects back-office operations rather than trading activities
- Regional holiday specific to Maharashtra
Impact Justification
Operational circular affecting reporting timelines for members and custodians due to regional trading holiday. Important for compliance but limited to specific dates and administrative in nature.