NSE issues circular on Maintenance and Operation of Clearing Bank Account.


The National Stock Exchange on 11th November 2022, directed the members to take note of the letter format to be submitted by clearing members to/from their respective clearing banks for maintenance and operation of clearing bank account.

Members are required to ensure that the account name is maintained as “Member Name DEBT Segment NCL Settlement A/C”.

Annexure 1 notifies the format for authorisation letter to be submitted by The Member to The Clearing Bank for the Operation of the Clearing Account and Annexure 2 deals with the Account Confirmation Letter from Clearing Bank to Clearing Member, annexure 3 specifies the Format for NOC from Clearing Bank to Clearing Member for Change of Bank.

Further annexure 4 deals with the format of Request Letter from the Clearing Member to the Clearing Corporation for Change of Settlement Account and annexure 5 specifies the Format for Noc for Closure of Existing Settlement Accounts from Clearing Member to Clearing Corporation.

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