NSE Clearing Ltd re-affirms “CRISIL AAA/Stable” for fifteenth consecutive year

India: 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 honoring debt obligations. NSE Clearing is a wholly owned subsidiary of NSE. As per CRISIL, the rating reflects “strong operational and financial linkages with the parent, the National Stock Exchange of India Ltd (NSE), 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 continue to have a strong market position due to its association with NSE and maintain 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 the selection of members, robust margining system, and risk-based position limits and surveillance mechanisms.