Description

NSE Clearing Limited informs clearing members about SEBI Annual Clearing Membership fees of Rs. 50,000 + 18% GST per segment for FY 2026-27, to be debited from Settlement Bank Accounts from May 7, 2026 onwards.

Summary

NSE Clearing Limited (NCL) has notified all Clearing Members, Self Clearing Members, and Professional Clearing Members about the SEBI Annual Clearing Membership fees payable for the financial year 2026-27. Fees of Rs. 50,000 + 18% GST per segment are applicable for members registered in Equity Derivatives, Currency Derivatives, Interest Rate Derivatives, Debt, and Commodity Derivatives segments.

Key Points

  • SEBI Annual Clearing Membership fee is Rs. 50,000 + 18% GST per segment for FY 2026-27
  • Fee applies to each segment in which a member is registered as Clearing/Self-Clearing Member
  • Debt Segment fee is waived if the member already pays fees for Equity Derivatives, Currency Derivatives, Interest Rate Derivatives, or Commodity Derivatives Segment
  • Fees will be debited from the respective segment’s Settlement Bank Account mapped with NSE Clearing Ltd
  • Debits will commence from May 7, 2026, and continue until full collection
  • If funds are insufficient in the primary account, any other segment’s Settlement Bank Account will be debited
  • Interest will be charged on outstanding amounts in case of delayed payment

Regulatory Changes

Fees are levied under SEBI (Stock Brokers) Regulations, 2026 - Chapter IX, Regulation 41. GST at 18% is applicable as per SEBI Circular SEBI/HO/GSD/TAD/CIR/P/2022/0097 dated July 18, 2022, which mandated GST on all SEBI fees and charges effective July 18, 2022.

Compliance Requirements

  • Clearing/Self-Clearing Members must ensure sufficient funds are available in their respective segment Settlement Bank Accounts on or before May 7, 2026
  • Members should verify which segments they are registered in to anticipate total fee liability
  • Members registered in Debt Segment should confirm whether the fee waiver applies to them based on their other segment registrations
  • For clarifications, members must contact: membership@nsccl.co.in or call 1800 266 0050

Important Dates

  • March 24, 2026: Circular issued
  • May 7, 2026: Fee debit commences from Settlement Bank Accounts (continues until full collection)

Impact Assessment

This is a routine annual compliance notification with direct financial impact on all registered clearing and self-clearing members of NCL across five segments. Members with multi-segment registrations face cumulative fee obligations (e.g., a member in three segments owes Rs. 1,50,000 + GST = Rs. 1,77,000). The Debt Segment waiver reduces burden for members already paying fees in other derivatives segments. No broader market or trading operations impact is expected.

Impact Justification

Routine annual fee notification affecting clearing/self-clearing members across multiple segments; no market-wide trading impact but requires direct financial action by members by May 7, 2026.