BSE unit ICCL demand Rs 100 crore from NSE

“NSE has not paid its dues to ICCL since September 2022, despite multiple reminders,” said one of the people aware of the development.

Earlier, NSE Clearing, the clearing arm of NSE, reported a Rs 176.65 crore shortfall in its minimum liquid assets in its December 2024 quarterly results. The shortfall was primarily attributed to the non-receipt of Rs 312.37 crore in dues from BSE. However, it is now learned that BSE has settled these dues with NSE Clearing Ltd.

In addition, NSE Clearing has also made a fresh demand of Rs 104 crore from BSE as its contribution to the Settlement Guarantee Fund (SGF).

An exchange official confirmed that market regulator Sebi is aware of the ongoing dispute between the two exchanges.

When contacted, an NSE spokesperson stated that ICCL had been charging NSE double the standard rates for an extended period. NSE identified this discrepancy in 2022 and subsequently raised the issue with ICCL, he said.”ICCL recently issued corrected bills for the recent period, which are being settled in due course. However, the double charges collected from NSE—amounting to over Rs 51 crore—are yet to be reprocessed and refunded by ICCL,” the NSE spokesperson added.To reduce trading costs, SEBI introduced a framework for interoperability among clearing corporations on June 1, 2019. This framework allows trading members to clear trades through a clearing firm of their choice, rather than being restricted to the clearing corporation affiliated with the exchange where the trade was executed.