NSE circular on Operational guidelines for submission of Half Yearly Networth Certificate as on March 31, 2026.
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Highlights of the NSE Circular :
This is in continuation to Circular No. NCL/CMPL/73537 dated March 30, 2026, regarding the submissions of the Half Yearly Net worth Certificate as on March 31, 2026.
As per the continuing membership norms of the NSE Clearing Limited (NCL), all Members of NCL are required to maintain minimum Networth at all points of time and submit the Networth certificate on a half yearly basis to NCL. With regards to the same, members are hereby advised to submit the Half Yearly Networth Certificate as on March 31, 2026, to NCL by May 31, 2026.
Members are requested to upload the Half Yearly Networth Certificate as on March 31, 2026 through NCL Portal (https://ims.connect2nsccl.com/NCLMemberPortal/ ).
For Net worth requirements, method of computation, formats regarding Half-Yearly Net worth Submission and undertaking to NCL, kindly refer to Annexure I.
User manual for submission of Net worth on portal is attached as Annexure II.
User manual for Creation of Sub user is attached as Annexure III. For logging to the portal of NCL, the members are requested to use the above link and their existing admin ids. Members please note Sub-User should have access only to NCL Inspection Sub-menu to access the relevant submission utility. The process to add sub users is given in the Annexure.
Further, as per Chapter X of the SEBI (Stockbrokers) Regulations, 2026, Net worth requirement for members shall be Base Net worth or Variable Net worth, whichever is higher. Members are further advised to refer to NCL Circular ref no. NCL/CMPL/55460 dated February 01, 2023 and NCL/CMPL/72712 dated February 09, 2026 for clarification on ascertaining Net worth as per SEBI Gazette Notification No. SEBI/LAD- NRO/GN/2022/73 dated February 23, 2022.
Members may please note the following and ensure compliance:
• For the purpose of calculation of variable net worth, all members shall continue to comply with the variable net worth requirement i.e. 10% of the average daily cash balance of clients retained with the member across segments and across the exchanges in the previous 6 months and Cash balance would include ‘Client Cash / FDR / BG’ retained by the member (across the Exchanges/ segments) which will be a consolidation of daily reporting by the members to Clearing Corporations in Segregation and Monitoring of Collateral at Client Level as per column number 22,23,24,38,39 and 40 i.e. Cash Retained by TM, Bank Guarantee (BG) Retained by TM, Fixed Deposit Receipt (FDR) Retained by TM, Cash Retained with CM, Bank Guarantee (BG) retained with CM and Fixed deposit receipt (FDR) retained with CM respectively.
• For Net worth requirements, method of computation, formats regarding Half-Yearly Net worth Submission and undertaking to NCL, All clearing members (including banks) are required to adhere to format specified in Annexure I.
• In case the reported Net worth is less than the minimum Net worth required or reported Net worth has a variation of 25% or more as compared to the last reported half yearly Net worth, members are required to mention the reason for the same during submission in the “Upload Additional Scan Copy Tab”.
• In case of any shortfall in Net worth, the net worth certificate as on March 31, 2026 shall be submitted under the “Net worth Certificate and Computation Tab” and the revised Net worth certificates as on a subsequent date meeting the minimum required Net worth shall be submitted in the “Upload Additional Scan Copy Tab”.
• Non-submission of Net worth certificates within the due date or in case of any shortfall, failure to submit a revised Net worth certificate along with the original Net worth certificate as on March 31, 2026, shall result in action as prescribed in NCL Master Circular ref no. NCL/CMPL/67806 dated April 30, 2025, administrative circular ref no. NCL/CMPL/67927 dated May 8, 2025 and NCL/CMPL/70806 dated October 14, 2025.
Any issues faced while uploading the networth certificate in the NCL portal may be sent to the email id “membe...@nsccl.co.in” with the subject line “Half Yearly Networth Certificate as on March 31, 2026 – Issues in networth Submission - <Name of the Clearing member and Member code>”.