The NSE Clearing Limited (NCL) on November 06, 2026, has issued an updated mechanism for reporting currency derivative contracts involving INR, in continuation of its consolidated circular dated April 30, 2026, and pursuant to SEBI circular dated November 05, 2026. Clearing Members of the Currency Derivatives Segment are required to report details of clients intending to take positions exceeding USD 5 million (or equivalent) across all exchanges combined and designate an Authorised Dealer (AD)/Custodian. Members must also submit confirmation from the AD Category-I Bank through the revised prescribed format.
NCL has provided a file upload facility on the NMASS portal for submitting AD-1 Bank details. Upon receipt of the required information, NCL will share the relevant position details with the respective AD-1 Bank. Clearing Members must ensure compliance with the revised reporting and submission requirements whenever a client intends to take positions exceeding the prescribed USD 5 million threshold.
[Circular No: 051/2026]
