Leading bourse National Stock Exchange (NSE) has asked brokers to submit details of its associate members by the month-end as part of market regulator Sebi's new risk management regime.
"Date for submission of details of associates is February 28, 2015, NSE said in a circular, adding that the move would help in safeguarding markets from systemic risks.
Sebi, in August, had put in place a new layer of safety net in the form of 'core settlement guarantee fund' to mitigate risks from possible default in institutional trades.
This new core fund has been created within the existing Settlement Guarantee Fund (SGF) against which no exposure is given and which is readily and unconditionally available to meet settlement obligations of clearing corporation in case of clearing members failing to honour settlement obligation.
NSE's clearing corporation arm takes contributions from members for the new core Settlement Guarantee Fund.
