NSEL's decision today to suspend trade in all contracts, except for 'e-series' products like gold and silver, came a fortnight after Government asked it not to launch new contracts.
"We have more than sufficient outstanding to cover the overall exposure. We have physical stocks worth Rs 6,200 crore compared to our total outstanding contracts of Rs 5,000-5,500 crore. There is nothing to worry for participant members or clients," NSEL Chief Executive Anjani Sinha told PTI.
The exchange has Rs 850-900 crore in a guarantee fund, Sinha claimed.
Meanwhile, top domestic brokerages Edelweiss Financial Services, Religare Enterprises and Motilal Oswal said they have no exposure or open positions on the exchange.
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"Religare Broking has no proprietary positions in NSEL and our total client exposure is less than Rs 5 crore," Religare said in a statement.
Edelweiss Financial Services and its subsidiaries, in a statement said, claimed "they do not have any position, whatsoever, on NSEL".
Last month, the Consumer Affairs Ministry asked NSEL, promoted by Financial Technologies (FTIL), not to launch any new contracts till further instructions.
The action of NSEL (in suspending trade in contracts) does not entail any financial liability on the promoter company and the business of FTIL is as usual, FTIL Chairman and MD Jignesh Shah earlier said in a filing to the BSE.
NSEL's daily turnover, which was over Rs 1,000 crore till June, has come down to around 350 crore. The suspension in the contracts covers most of its products, industry sources said.