Description

NSE replaces earlier consolidated circular NSE/MSD/67755 dated April 29, 2025, with an updated compilation of all circulars related to User ID issued till March 31, 2026.

Summary

NSE’s Member Service Department has issued a consolidated circular (Ref No: NSE/MSD/73956, Circular Ref. No: 27/2026) replacing the earlier consolidated circular NSE/MSD/67755 dated April 29, 2025. This compilation incorporates all circulars related to User ID issued up to March 31, 2026, covering user management, trading terminals, certification, and related operational matters.

Key Points

  • Replaces consolidated circular NSE/MSD/67755 dated April 29, 2025
  • Compilation covers all User ID-related circulars issued up to March 31, 2026
  • No information has been rescinded in this consolidation
  • Covers User Management including User Types, Certification, and limits on User IDs allotted
  • Covers Trading Terminals including types, location, control, and responsibility
  • Contact for queries: 1800 266 0050 (Option 1) or msm@nse.co.in

Regulatory Changes

No new regulatory changes have been introduced. This is a consolidation circular that compiles existing guidelines related to User ID management. Any future rescissions will be subject to transitional provisions ensuring past actions and liabilities remain unaffected.

Compliance Requirements

  • All NSE members must refer to this consolidated circular as the authoritative reference for User ID matters
  • Members must comply with User Management rules covering user types, certification requirements, and limits on User IDs
  • Members must adhere to Trading Terminal regulations covering permitted terminal types, approved locations, control procedures, and assigned responsibilities
  • Any actions taken under previously rescinded guidelines remain valid and enforceable

Important Dates

  • April 29, 2026: Date of issue of this consolidated circular
  • March 31, 2026: Cut-off date for circulars included in this compilation
  • April 29, 2025: Date of the prior consolidated circular (NSE/MSD/67755) that this circular replaces

Impact Assessment

This circular has moderate operational impact on NSE trading members. It serves as the single reference document for all User ID-related compliance requirements, simplifying member adherence by consolidating dispersed circulars. No immediate action is required from members beyond updating their internal compliance documentation to reference the new circular number. Transitional provisions protect any rights, obligations, or penalties established under prior circulars.

Impact Justification

Routine administrative consolidated circular for NSE members covering User ID management procedures. No new regulatory changes introduced; replaces prior circular with updated compilation through March 2026.