New Delhi, Feb 5 (PTI) – NSE Clearing Ltd, the clearing house for the National Stock Exchange (NSE), has not fulfilled the liquidity requirements set by the capital markets regulator, Sebi. The company attributes this shortfall to the non-payment of dues by its competitor, BSE. In its quarterly results for December 2024, NSE Clearing reported a deficit of ₹176.65 crore in its minimum liquid assets. In a letter to Sebi dated January 9, the company explained that this shortfall was largely due to the non-receipt of ₹312.37 crore owed by BSE.
A spokesperson for NSE Clearing noted that the auditors highlighted the issue of outstanding payments during their financial review for the third quarter. The pending amount relates to “interoperability arrangements,” according to the official. “The company is still awaiting over ₹300 crore in dues from BSE Ltd. NSE Clearing is in discussions with BSE regarding this matter,” the spokesperson added.
The Securities and Exchange Board of India (Sebi) has established risk-based capital and net worth requirements for clearing corporations, mandating that they maintain sufficient liquid assets to ensure financial stability. To lower trading costs, Sebi introduced a framework for interoperability among clearing corporations on June 1, 2019. This framework allows trading members to clear trades through a clearing firm of their choice, rather than being limited to the clearing corporation associated with the exchange where the trade was executed.
