Derivatives Segment :

In the Derivatives segment, NSCCL has admitted Clearing Members (CMs) distinct from Trading Members (TMs) in line with the 2-tier membership structure stipulated by SEBI to enable wider participation in the Derivatives segment. All trades on the Derivatives segment are cleared through a CM of NSCCL.

Nifty index futures contracts are cash settled, i.e. through exchange of cash differences in value. Settlement is done on a daily basis by marking to market all open positions on the basis of the daily settlement price. The contracts are finally settled on expiry of the Nifty index futures contract when NSCCL marks the open positions of a CM to the closing price of the underlying index and resulting profit/loss is settled in cash.