NSE company NSCCL earns top corporate credit rating

National Stock Exchange (NSE) subsidiary National Securities Clearing Corporation Limited (NSCCL) on Wednesday said it received the highest corporate credit rating 'CCR AAA' from ratings agency CRISIL.

"'CCR AAA' rating indicates the highest degree of strength with regard to honouring debt obligations," said the NSE in a statement.

NSE said CRISIL's rating is a reflection of NSCCL status as the clearing corporation of the NSE factoring in risk management controls and adequate settlement guarantee cover.

"NSCCL has been recognised as a Qualified Central Counterparty (QCCP) and systemically important market infrastructure institution in securities market regulated by Securities and Exchange Board of India (SEBI)," said NSCCL managing director T. Venkat Rao in the statement.

The NSE company addresses risks in clearing and settlement, selection of members, margining system, risk-based position limits and surveillance mechanism.

"As of December 2015, the quantum of core SGF of NSCCL across various segment created as per SEBI regulations is around Rs.1,029 crores. During the month, the exchange has done Rs.26,681 crore of funds settlement in cash segment and Rs.1,03,415 crore worth of securities settlement," the statement added.