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NSE Clearing Limited provides an exemption from margin requirements for members and clients in the Commodity Derivatives Segment. This exemption applies when members or clients perform early pay-in through the Inventory Management System interface. The exemption covers open positions in derivative contracts that relate to the underlying commodity for which the early pay-in occurs. This change takes effect on September 21, 2026.
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| Download Ref No: NCL/COM/76416 | Date: September 18, 2026 |
|---|---|
| Circular Ref. No: 0338/2026 |
All Members,
Sub: - Applicability of the benefit of early pay-in in Commodity Derivatives Segment
This is further in reference to SEBI circular ref. no: HO/47/16/13(4)2026-MRD-POD1/I/14266/2026 dated June 19, 2026, and NCL Circular ref. no: 0217/2026 (Download Ref No: NCL/COM/74804) dated June 22, 2026, regarding Clarification with respect to applicability of the benefit of early pay-in in Commodity Derivatives Segment.
Members/clients providing early pay-in through the Inventory Management System (IMS) interface shall be exempt from margins applicable on their open positions in the relevant derivative contracts available on the underlying commodity for which the early pay-in has been made.
The provisions of this circular shall be effective from September 21, 2026.
Members are requested to take note of the above.
For and on behalf of
NSE Clearing Limited
Huzefa Mahuvawala
Chief Risk Officer
| Telephone No | Email id |
|---|---|
| 1800 266 0050 (IVR Option 2) | risk_ops@nsccl.co.in |
