SEBI Working Group Proposes Fee Revision For Clearing Houses Ahead Of NSE IPO

A Securities and Exchange Board of India (SEBI) panel headed by former Reserve Bank of India (RBI) Deputy Governor R.S. Gandhi is examining a proposal to increase transaction charges for clearing corporations such as National Stock Exchange (NSE) Clearing.

The revision aims to strengthen their financial independence and align charges with trading volumes. The proposed changes could reduce the National Stock Exchange’s standalone earnings ahead of its Initial Public Offering (IPO), as a larger share of fees may go to its clearing arm. The panel is also studying a plan requiring clearing members to contribute to the Settlement Guarantee Fund (SGF) to address default risks. The group’s recommendations are expected to be finalised later this year.