abhishreshthaa
Abhijeet S
National Securities Clearing Corporation Ltd
- National Securities Clearing Corporation Ltd. (NSCCL), is a wholly-owned subsidiary of NSE.
- It was set up in August 1995 and it was the first clearing corporation in the country to provide Novation/ settlement guarantee that revolutionised the entire concept of settlement system in India.
- It commenced clearing operations in April 1996
- To bring and sustain confidence in clearing and settlement of securities.
- To promote and maintain short and consistent settlement cycles.
- To provide counter-party risk guarantee.
- To operate a tight risk containment system.
- Working
- It operates a well-defined settlement cycle and there are no deviations or deferments from this cycle.
- It has been managing clearing and settlement functions since its inception without a single failure