NSE Discontinues Reporting requirement of Summary of Settlement of Clients’ Funds

NSE, In order to monitor the compliance of timely settlement of running account of clients’ funds and facilitate verification of excess clients’ funds are not retained by the members as on the date of settlement of running account, previously advised members to report the summary of settlement of clients’ funds and UCC wise settlement details, to the Exchange within T+2 & T+10 trading days respectively from the date of settlement of client funds by members.

Based on representation from Brokers’ Industry Standards Forum and in consultation with SEBI, it has been decided to ease out compliance of members by discontinuing the reporting requirement of settlement summary data with immediate effect.

Members are advised to take note that the reporting requirement of UCC wise settlement data within T+10 Trading days from the date of settlement of clients’ funds, shall continue to remain applicable.

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