On Mar. 5, IND NSE issued rules re change in collateral formats.
IND NSE issued circular to amend consolidated circulars of Apr. 29, 2024 for futures and options segment, capital market segment, and commodity derivatives segment.
Follows IND NSE Apr. 2024 issued circulars for futures, options, capital, see #210197.
Documents dated Mar. 5, 2025, received from IND NSE Mar. 7, summarized Mar. 11.
Amendments
Amend collateral formats such as format of letter by member for submission of fixed deposit receipt (FDR) to clearing corporation (CC); letter to be provided by bank.
Format of letter to be provided by bank for renewal of FDR to the CC; format of bank guarantee for margin deposit/security deposit, format of renewal of bank guarantee.
The facility to provide FDR in favor of approved custodians is being discontinued and no fresh or renewal of FDR through approved custodians shall be accepted.
Effectiveness
The provisions shall be made effective from Apr. 15, 2025.
