Description

NSE Clearing Limited announces extended timings for collateral up-streaming, down-streaming, and allocation windows for April 17, 2026, in reference to SEBI's settlement of running account circular.

Summary

NSE Clearing Limited has announced revised timings for collateral up-streaming, down-streaming, and allocation windows applicable on April 17, 2026. This circular is issued under the Securities Lending and Borrowing Scheme department and references SEBI’s circular on settlement of running accounts of client funds with trading members.

Key Points

  • The collateral up-streaming and down-streaming window for cash and fixed deposit receipts (FDR) will remain open until 8:00 PM on April 17, 2026.
  • The collateral allocation window will remain open until 10:00 PM on April 17, 2026.
  • NSE Clearing will endeavor to release Cash/FDR/BG within one hour of a request from a clearing member, subject to available collateral post margin checks.

Regulatory Changes

This circular references SEBI Circular No. SEBI/HO/MIRSD/DOP/P/CIR/2022/101 dated July 27, 2022, regarding the settlement of running accounts of client funds held with trading members. The revised timings are a temporary operational adjustment for a specific date.

Compliance Requirements

  • Clearing members must take note of the revised collateral window timings for April 17, 2026.
  • Requests for release of Cash/FDR/BG must be submitted within the operational window to ensure timely processing by NSE Clearing.

Important Dates

  • Circular Date: April 13, 2026
  • Effective Date: April 17, 2026
  • Collateral up-streaming/down-streaming window closes: 8:00 PM on April 17, 2026
  • Collateral allocation window closes: 10:00 PM on April 17, 2026

Impact Assessment

This change primarily affects clearing members who manage collateral under the Securities Lending and Borrowing Scheme. The extended timings on April 17, 2026 (likely due to a market holiday or special settlement day) provide additional operational flexibility for collateral management. Clearing members should update their internal workflows to align with the revised schedule to avoid settlement issues.

Impact Justification

Operational change affecting clearing members' collateral management windows on a specific date; routine timing adjustment with limited broader market impact.