The National Commodity Clearing Limited (NCCL), on April 28, 2026, issued a circular prescribing the settlement calendar and timelines for submission of delivery intentions for all futures contracts expiring in May 2026, in accordance with applicable bye-laws and regulations.
The circular outlines the settlement framework for commodities under compulsory staggered delivery, specifying tender/delivery intention marking dates from May 18 to May 20, 2026, along with timelines for physical settlement, premium/discount settlement, and GST settlement. It also details schedules for invoice updation by sellers and confirmation by buyers, and requires members to submit delivery intentions and location preferences through the NCFE platform within prescribed timelines.
Additionally, NCCL has emphasized strict compliance with delivery obligations, including mandatory settlement of open positions, penalties for delivery defaults, additional penalties for repeated defaults, and applicable GST on penalties. Late fees will also apply for delays in submission of required delivery and invoice-related information.
[Notification No. NCCL/CLEARING-026/2026]
