Description

NSE Clearing Limited has extended the NCMS EXE decommissioning deadline to June 15, 2026, giving members additional time to transition to the NCMS API 2.0 facility in the F&O segment.

Summary

NSE Clearing Limited has extended the deadline for discontinuation of the NCMS EXE (executable) application in the Futures & Options (F&O) segment. The new decommissioning date is June 15, 2026, extended from the timeline communicated in the earlier circular NCL/CMPT/71877 dated December 18, 2025. Members are urged to complete testing of NCMS API 2.0 and ensure a smooth transition before the revised deadline.

Key Points

  • The NCMS EXE decommissioning date has been extended to June 15, 2026.
  • This is a continuation of circular NCL/CMPT/71877 (dated December 18, 2025), which originally notified members of the discontinuation.
  • Members must test the NCMS API Facility in NCMS FO extensively.
  • All members are required to transition from NCMS EXE to NCMS API 2.0.
  • Issued by NSE Clearing Limited under Circular Ref. No: 039/2026.

Regulatory Changes

No new regulatory mandates are introduced. This circular extends a previously announced operational change — the decommissioning of the NCMS EXE application — shifting the effective date to June 15, 2026.

Compliance Requirements

  • All trading members currently using NCMS EXE in the F&O segment must migrate to NCMS API 2.0 before June 15, 2026.
  • Members must extensively test the NCMS API facility in NCMS FO to ensure readiness.
  • Members should coordinate internally to complete the transition well ahead of the deadline.

Important Dates

  • December 18, 2025: Original circular NCL/CMPT/71877 issued, requesting members to avail and test NCMS API Facility.
  • March 30, 2026: This extension circular issued (NCL/CMPT/73546, Ref. 039/2026).
  • June 15, 2026: Revised deadline for NCMS EXE decommissioning — all members must have transitioned to NCMS API 2.0 by this date.

Impact Assessment

This circular impacts trading and clearing members in the F&O segment who rely on the NCMS EXE application for clearing and margin-related operations. The extension provides additional time for testing and transition, reducing short-term operational risk. However, members who have not yet begun testing NCMS API 2.0 should treat this as a final window. Failure to migrate by June 15, 2026 could result in loss of access to clearing functionalities via the legacy EXE interface. No direct market price or liquidity impact is anticipated.

Impact Justification

Operational circular affecting trading members using NCMS EXE in F&O segment; extends a previously communicated deadline, providing relief but requiring action by June 15, 2026. No immediate market-wide impact but operationally significant for affected members.