NSCCL Rated “CCR AAA” for eighth consecutive year

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Mumbai: National Securities Clearing Corporation Limited (NSCCL), has got the highest corporate credit rating of ‘CCR AAA’ from Crisil. ‘CCR AAA’ rating indicates the highest degree of strength with regard to honouring debt obligations. NSCCL is a wholly owned subsidiary of NSE.

As per CRISIL, the rating reflects NSCCL’s status as Clearing Corporation for NSE. The rating also factors in NSCCL’s rigorous risk management controls and adequate settlement guarantee cover.  CRISIL has further stated that NSCCL’s risk management system is comprehensive and is regularly upgraded to pre-empt market failures. The company addresses risks in clearing and settlement with its stringent norms for selection of members, robust margining system, and risk-based position limits and surveillance mechanism.

As of December 2015, the quantum of core SGF of NSCCL across various segment created as per SEBI regulations is around Rs.1029 crores. During the month the exchange has done Rs 26681 cr of funds settlement in cash segment and Rs 103415 cr worth of securities settlement.

“NSCCL has been recognized as a Qualified Central Counterparty (QCCP) and systemically important market infrastructure institution in securities market regulated by SEBI”, said Mr T Venkat Rao, Managing Director, NSCCL. The organization is committed to the adoption and implementation of the principles “Principles for Financial Market Infrastructure” (PFMIs) issued by the CPMI and IOSCO in April 2012. NSCCL has provided a comprehensive disclosure on its governance arrangements, operational procedures and practices, and risk management frameworks that are applied for providing clearing and settlement services. This disclosure is based on the guidelines provided by CPMI-IOSCO and the report titled “Principles for financial market infrastructures: Disclosure framework and assessment methodology”, published in December, 2012.

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