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The circular dated June 19, 2024, u/s 11(1) SEBI Act, 1992, ...


New SEBI rules for Clearing Corporations: Guidelines for Core SGF & Default Waterfall. Participants must comply with risk-based contributions.

Circulars     SEBI

June 21, 2024

The circular dated June 19, 2024, u/s 11(1) SEBI Act, 1992, addresses Contribution to Core Settlement Guarantee Fund and Default Waterfall for Limited Purpose Clearing Corporation (LPCC). It amends guidelines for contributions to Core SGF and Default waterfall, allowing direct participation by participants in LPCC. Participants' contributions to Core SGF are risk-based and subject to conditions. Timelines for contribution replenishment and default waterfall sequence are specified. LPCC must make necessary amendments and communicate implementation status to SEBI. The circular aims to protect investors' interests in the securities market.

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