NSE inks pact with Nasdaq for offering real-time clearing, settlements

The changes are aimed to raise efficiency and reduce post-trade risks

The National Stock Exchange of India (NSE) has entered into an agreement with US bourse Nasdaq, to bring the latter’s clearing, risk management and settlement technologies here.

The new post-trade technology will replace NSE’s current clearing and settlement system operated by the National Securities Clearing Corporation, a wholly owned subsidiary of NSE, over the next 24-36 months.

“Our systems are all indigenously developed and we are working with Nasdaq to customise its global platform to meet Indian needs,” said Vikram Limaye, managing director at NSE. The upgrade in technology, said, would help prepare it for future regulatory change in areas such as