Description

NSE requires all existing RFQ participants to confirm their entity type with the Exchange for the half-year ending March 31, 2026, via the CBRICS portal during April 1-30, 2026.

Summary

NSE has issued a circular (NSE/COMP/73454) requiring all existing RFQ (Request for Quote) participants to confirm their entity type with the Exchange for the half-year ending March 31, 2026. This follows the earlier circular NSE/COMP/70511 dated September 30, 2025. Confirmation must be completed via the CBRICS portal between April 1 and April 30, 2026.

Key Points

  • All existing RFQ participants must confirm their entity type on CBRICS portal for H2 ending March 31, 2026
  • Confirmation window: April 1, 2026 to April 30, 2026
  • Only admin login of the RFQ participant can perform the confirmation
  • Failure to confirm within the prescribed timeline will result in revocation of RFQ access
  • If entity type needs amendment, RFQ access will be revoked until the amendment is approved/rejected by the Exchange

Regulatory Changes

No new regulatory framework introduced. This is a continuation of the half-yearly entity type confirmation process established under circular NSE/COMP/70511 dated September 30, 2025.

Compliance Requirements

  • Admin of each RFQ participant must log in to CBRICS portal at https://bricsonline.nseindia.com/bondsnew/rest/login
  • Confirm existing entity type if correct, or submit a Participant Amendment Request if entity type needs modification
  • If modifying entity type: select “Modify Entity Type”, choose the correct entity type from the dropdown, and upload relevant supporting documents
  • Only entity modification details should be modified; requests combining custodian and entity modification will not be considered
  • Disclosure of entity type confirmation will be visible under Participant Registration > Participant Entity Type Disclosure

Important Dates

  • Half-year end date: March 31, 2026
  • Confirmation window start: April 1, 2026
  • Confirmation deadline: April 30, 2026
  • Consequence of non-compliance: RFQ access revoked after April 30, 2026

Impact Assessment

This circular impacts all RFQ participants on NSE’s bond trading platform (CBRICS). Participants who fail to confirm their entity type by April 30, 2026 will lose access to the RFQ platform. Participants requiring entity type amendments face temporary access revocation during the review period. The impact is limited to bond market participants using the RFQ platform and does not affect equity or derivatives markets. Support is available via helpdesk at 1800 266 0050 (IVR option 3) or memcompliance_support@nse.co.in.

Impact Justification

Routine half-yearly compliance requirement for RFQ participants; non-compliance results in revocation of RFQ platform access, but affects only bond market participants and not broader market.