NCDEX Circular on - Reminder – Adherence with the glide path provided by SEBI for safer participation of retail investors in Algorithmic Trading.
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Nov 28, 2025, 6:42:42 AM11/28/25
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Date of Issue: 27-11-2025
Issuer: NCDEX
Reminder – Adherence with the glide path provided by SEBI for safer participation of retail investors in Algorithmic Trading.
Issuer: NCDEX
Reminder – Adherence with the glide path provided by SEBI for safer participation of retail investors in Algorithmic Trading.
Highlights of NCDEX Circular dated November-27-2025
This is with reference to SEBI circular Ref. No: SEBI/HO/MIRSD/MIRSDPoD/P/CIR/2025/0000013 dated February 04, 2025 related to ‘Safer participation of retail investors in Algorithmic trading’. In order to provide more time to Trading Members who are yet to carry out the required system changes, a glide path was provided in the SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/132 dated September 30, 2025, wherein trading members are required to adhere to the milestones provided in the circular.
Accordingly, Trading Members are hereby reminded to take note of the following forthcoming milestones to ensure compliance with the same:
Milestone 2 –
Registration of retail algo products coming through API (In-house and through vendors) and few algo strategies for retail algo with exchange shall be completed by 30th November 2025.
Milestone 3 –
Stock broker shall participate in at least one mock session with the new functionality which is complete in all aspects by January 03, 2026. In case, stock broker has not participated by January 03, 2026, the said fact shall be intimated to the exchange.
Stock brokers, who fail to adhere to the above milestones, shall be barred from onboarding new retail clients for API based algo trading framework w.e.f. January 05, 2026.
Members are hence requested to adhere to the milestones mentioned above.
Further, as per a separate communication sent by the Exchange earlier, Trading Members are requested to share the information regarding the number of existing clients as on December 31, 2025 to the exchange on as...@ncdex.com by January 02, 2026, in the prescribed format –
Annexure 1 Exchange via an e-mail to all the trading members).
In case of any clarification or assistance required in the implementation of this circular, you may contact : Kaushik Jethwa at kau...@secmark.in and 9870210171
This is with reference to SEBI circular Ref. No: SEBI/HO/MIRSD/MIRSDPoD/P/CIR/2025/0000013 dated February 04, 2025 related to ‘Safer participation of retail investors in Algorithmic trading’. In order to provide more time to Trading Members who are yet to carry out the required system changes, a glide path was provided in the SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/132 dated September 30, 2025, wherein trading members are required to adhere to the milestones provided in the circular.
Accordingly, Trading Members are hereby reminded to take note of the following forthcoming milestones to ensure compliance with the same:
Milestone 2 –
Registration of retail algo products coming through API (In-house and through vendors) and few algo strategies for retail algo with exchange shall be completed by 30th November 2025.
Milestone 3 –
Stock broker shall participate in at least one mock session with the new functionality which is complete in all aspects by January 03, 2026. In case, stock broker has not participated by January 03, 2026, the said fact shall be intimated to the exchange.
Stock brokers, who fail to adhere to the above milestones, shall be barred from onboarding new retail clients for API based algo trading framework w.e.f. January 05, 2026.
Members are hence requested to adhere to the milestones mentioned above.
Further, as per a separate communication sent by the Exchange earlier, Trading Members are requested to share the information regarding the number of existing clients as on December 31, 2025 to the exchange on as...@ncdex.com by January 02, 2026, in the prescribed format –
Annexure 1 Exchange via an e-mail to all the trading members).
In case of any clarification or assistance required in the implementation of this circular, you may contact : Kaushik Jethwa at kau...@secmark.in and 9870210171
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