NSE Clearing Ltd. Rated “CCR AAA/Stable” for twelfth consecutive year

by Suman Gupta

New Delhi, January 02, 2020: NSE Clearing Limited (NSE Clearing), has received reaffirmation of its corporate credit rating of ‘CCR AAA/Stable’ from CRISIL. ‘CCR AAA/Stable’ rating indicates the highest degree of strength with regard to honouring debt obligations. NSE Clearing is a wholly owned subsidiary of NSE. As per CRISIL, the rating reflects “NSE Clearing’s strong operational and financial linkages with its parent, the National Stock Exchange of India Ltd (NSE), and comprehensive risk management systems that have been put in place”. CRISIL has stated that “NSE Clearing has comprehensive risk management systems that are regularly up graded to pre-empt market failures. CRISIL has reaffirmed the outlook for NSE Clearing as “Stable” and states that, “NSE Clearing will continue to have strong market position over the medium term due to its association with NSE and maintain comprehensive risk management systems and adequate core SGF commensurate with the clearing volumes.” On an ongoing basis, NSE Clearing continues to address the risks in clearing and settlement with its stringent norms for selection of members, robust margining system, and risk-based position limits and surveillance mechanism.

About NSE Clearing Limited (NSE Clearing):NSE Clearing Limited (National Clearing) formerly known as National Securities Clearing Corporation Limited (NSCCL), a wholly owned subsidiary of NSE, was incorporated in August 1995. It was the first clearing corporation to be established in the country and also the first clearing corporation in the country to introduce settlement guarantee. NSE Clearing has been recognized as QCCP by SEBI, Third Country CCP (TC-CCP) by European Securities Market Authority, and as TC-CPP by Temporary Recognition Regime of the UK.