NSCCL carries out clearing and settlement functions as per the settlement cycles provided in the settlement schedule. The clearing function of the clearing corporation is designed to work out a) what members are due to deliver and b) what members are due to receive on the settlement date. Settlement is a two way process which involves transfer of funds and securities on the settlement date.
NSCCL follows a T+2 rolling settlement cycles for debt securities traded on retail platform. For all trades executed on the T day on retail platform, NSCCL determines the cumulative obligations of each clearing member.