MUMBAI: NSE Clearing Limited (NSE Clearing), has received a reaffirmation of its credit rating of ‘‘CRISIL AAA/Stable” from CRISIL. ‘‘CRISIL AAA/Stable” rating indicates the highest degree of strength with regards to honouring debt obligations. NSE Clearing is a wholly owned subsidiary of NSE. As per CRISIL, the rating reflects NSE Clearing’s “strategic importance to, and the strong support from, its parent, National Stock Exchange of India Ltd (NSE)”. The rating also factors in NSE Clearing’s “comfortable capital position and comprehensive risk management systems”.
CRISIL has stated that “The systems are regularly upgraded to pre-empt market failures”. CRISIL has reaffirmed the outlook for NSE Clearing as “Stable” and states that, “NSE Clearing will maintain its strong market position due to its association with NSE and will sustain its comprehensive risk management systems and adequate core SGF commensurate with the clearing volumes, over the medium term.” On an ongoing basis, NSE Clearing continues to address the risks in clearing and settlement with its stringent norms for selection of members, robust margining system, and risk-based position limits and surveillance mechanism.
