The National Commodity & Derivatives Exchange Limited, on November 27, 2025, issued a reminder on SEBI Glide Path Compliance for Retail Algorithmic Trading.
The following has been stated:
• Milestone 2 (Deadline: November 30, 2025): Trading Members must complete registration of all retail algo products routed via API (both in-house and vendor-based), along with select retail algo strategies, with the Exchange.
• Milestone 3 (Deadline: January 03, 2026): Stock brokers must participate in at least one mock session using the new, fully functional framework. Non-participation by the deadline must be reported to the Exchange.
• Non-Compliance Consequence (Effective January 05, 2026): Brokers who fail to meet the above milestones will be barred from onboarding new retail clients for API-based algo trading.
• Additional Requirement: Trading Members must submit details of the number of existing clients (as on December 31, 2025) to [email protected] by January 02, 2026, using the prescribed format as mentioned in Annexure 1 attached to the document below.
[Circular No.: NCDEX/TRADING-036/2025]
