The NSE Clearing Limited (NCL) on November 02, 2026, issued a circular regarding migration of Non-Settlement Related Payments from Custodians to Trading Members in the Cash Market Segment from T+2 to T+1 Settlement Cycle.
The following has been stated: -
•National Clearing Limited (NCL) has revised the process for non-settlement related payments from Custodians to Trading Members in the Cash Market Segment, in line with the migration from the T+2 to T+1 settlement cycle.
•Custodians are required to upload payment details by 4:00 PM on the settlement day, following which NCL will debit the Custodian’s clearing bank account and credit the linked Clearing Member’s account on the same day.
•NCL will also generate and provide Trading Members with a report containing payment details. These payments shall remain separate from settlement obligations, will not be guaranteed by NCL, and shall be subject to realization from Custodians.
•The revised process will be operational from November 16, 2026, with reference to Circular Ref. No. NCL/CMPT/40991 dated May 14, 2019.
The detailed circular is given in the document below.
[Circular Ref. No: 0379/2026]
