National Commodity Clearing Limited (NCCL) is the clearing and settlement agency for all deals executed on NCDEX.

NCCL shall guarantee settlement of all trades executed on NCDEX by assuming the counter party risk of the Clearing Members for all the trades done on NCDEX. All trades executed on a trading day, shall be cleared and settled on a netted basis for daily settlement and gross basis for delivery settlement by NCCL to determine the settlement obligations for all Clearing Members.

A Clearing Member (CM) of NCCL has the responsibility of clearing and settlement of all deals executed by Trading Members (TM) on NCDEX, who clear and settle such deals through them.

NCCL shall guarantee its Clearing Members:-

  1. Funds pay-out till marking of delivery and
  2. Financial compensation (to make good losses of non-defaulting party) in case of default (in goods or funds pay-in) after marking of delivery