NSE Clearing NCMS Web API Protocol Version 1.0 for Currency Derivatives Segment

Description

NSE Clearing Limited has released Version 1.0 of the Web API Protocol for the NCMS (National Clearing Management System) in the Currency Derivatives Segment, detailing authentication, trade activity inquiry, and approval/rejection endpoints for member integration.

Summary

NSE Clearing Limited (NCL) has published Version 1.0 of the Web API Protocol for the NCMS (National Clearing Management System) in the Currency Derivatives (CD) Segment. The document, initially released on 13-Apr-2026, defines the technical specifications for member integration with NCL’s clearing systems via HTTP-based REST APIs, covering authentication, trade activity inquiries, and approval/rejection workflows.

Key Points

• Version 1.0 of the NCMS Web API Protocol for the CD Segment has been released by NSE Clearing Limited.
• The API supports token-based authentication via POST /<version>/request/token.
• Members can query trade activity using POST /<version>/inquire/trd-act.
• Approval and rejection of requests are handled via POST /<version>/request/approval-rejection.
• Counterparty (CP) modification is supported through POST /<version>/request/cp-modification.
• Bulk approval of all pending requests is available via POST /<version>/request/approve-all.
• The document includes HTTP status codes, common error response JSON structures, environment details, and API consumer registration procedures.
• Reference codes for Market Type, Market Status, Transaction Code, Activity Type, Book Type, Client Type, and Buy/Sell Flag are provided in Appendix A.

Regulatory Changes

This circular introduces formal API documentation for the NCMS facility in the Currency Derivatives Segment. It standardizes the programmatic interface through which clearing members interact with NSE Clearing’s systems for trade activity management, replacing or supplementing earlier manual or proprietary access methods.

Compliance Requirements

• Clearing members intending to use the NCMS Web API in the CD Segment must register as API consumers as per the registration procedure outlined in the document.
• Members must implement token-based API security as described in the API Security section.
• All API interactions must conform to the specified request/response JSON schemas and HTTP status code handling.
• Members must use the reference codes provided in Appendix A for correct field values in API requests.

Important Dates

• 13-Apr-2026: Initial release of NCMS Web API Protocol Version 1.0 for CD Segment.
• 2026-05-12: Circular update published by NSE regarding the NCMS API facility.

Impact Assessment

This update primarily affects clearing members active in the Currency Derivatives Segment who wish to integrate programmatically with NSE Clearing’s NCMS system. The Web API enables automation of trade activity inquiries, approvals, rejections, and CP modifications, improving operational efficiency for members. There is no direct impact on trading strategies or market pricing. Members not yet using the API should evaluate integration requirements and initiate API consumer registration. The release of Version 1.0 suggests this is a new or significantly updated facility, and members should review the full protocol document to ensure compliance with the new interface standards.

Impact Justification

Technical API documentation update relevant to clearing members operating in the Currency Derivatives segment; operational impact is medium as it enables/mandates use of NCMS Web API for trade activity management, but is not a regulatory or compliance mandate with immediate market-wide impact.