GENERAL/ MISCELLANEOUS CIRCULARS

Default Waterfall Mechanism for September 2026 by NSE Clearing

By TEAM CIRCULAR EXPRESS • 02 Sep 2026
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• This circular outlines the default waterfall mechanism for NSE Clearing for September 2026.
• It details the order of resource utilization across segments including Cash, Futures & Options, Currency Derivatives, Debt, Tri-Party Repo, Commodity, and Electronic Gold Receipt.
• The document specifies the allocation of CC resources, penalties, and member contributions to the Core SGF based on financial results as of June 30, 2026.
purpose of issuance
To define the default waterfall mechanism and resource allocation for clearing segments
Most Important Details
The document provides a structured table detailing the hierarchy of funds and resources used in the event of a member default, including Core SGF contributions, penalties, and pro-rata haircut procedures for various market segments.
issue_date
2026-09-01
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