Features of SLBS

NSCCL as an Approved Intermediary launched the Securities Lending & Borrowing Scheme on April 21, 2008. Lending & Borrowing is facilitated on an automated screen based platform where the order matching is on price time priority. The participant needs to quote the lending fee per share on the order matching platform.

Features of Securities lending and borrowing scheme

  • Automated screen based trading platform with online matching of trades based on price- time priority
  • Tenure of lending and borrowing available upto a period of 12 months
  • A facility for placing early recall request for the securities lent is provided to the lender
  • A facility for the borrower to make an early repayment of securities and further relend them
  • The transactions are based on fixed monthly tenures with specified reverse leg settlement dates and the tenure ranges from 1 month up to 12 months.
  • The specified reverse leg settlement date is the first Thursday of the corresponding month. Each reverse leg settlement date is assigned a specific series number. Majorly securities traded in F&O segment are eligible for lending & borrowing under the scheme.

Two separate series of contracts are made available as given below:-
      A.Contracts which shall continue to be mandatorily foreclosed in the event of AGM/EGM
      B. Contracts which shall not be foreclosed in the event of AGM/EGM.

Sr No. Series (A) Series (B) Month
1 01 X1 January
2 02 X2 February
03 03 X3 March
04 04 X4 April
05 05 X5 May
06 06 X6 June
07 07 X7 July
08 08 X8 August
09 09 X9 September
10 10 XO October
11 11 N November
12 12 D December

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The higher the Percent of Deliverable Quantity to Traded Quantity the better - it indicates that most buyers are expecting the price of the share to go up.

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