National Securities Clearing Corporation Limited (NSCCL) :

This company incorporated as a wholly owned subsidiary of the National Stock Exchange of India Limited carries out clearing and settlement of the trades executed in the capital market segment of National Stock Exchange. This company completes the settlement promptly without delay or deferment. It operates on behalf of the clearing members from and to regional clearing centres and central clearing centres at Mumbai. It was the first organisation to start pre-delivery verification to detect bad papers in the form of fake or forged certificates or lost and stolen share certificates through the automated mechanism of the clearing corporation. A facility is provided to lend/borrow securities as well as funds at market determined rates and enables timely delivery of securities with efficiency. This corporation is connected to National Securities Depository Limited (NSDL) and Central Depositories Services (India) Limited (CDSL) and carries out clearing and settlement services for other exchanges as well as for Index Futures.