National Clearing Corporation Ltd. (NSCCL) And Bank Clearing System

The National Clearing Corporation has partnered select banks for their fund settlement mechanism in Capital Markets. Trading members' pay-in and payout obligations are settled on a daily basis through the interface software that acts as a conduit between 2 quite dissimilar software - the banking software and NSCCL system.

The main benefit of this method of settlement is that it helps the trading members transact and exchange, to settle their account immediately without any clearing delay of any sort. Thus, safeguarding everybody's interests.

Features

  • Trading members' balance file upload
  • Transaction file uploads from NSCCL
  • Trail Runs to check the settlements and shortages
  • Final Run and transaction debit uploads of trading members' accounts in banking software
  • Return transaction file with amounts debited and corresponding shortages
  • System Administrative functions
  • Reports

Our Role

Ember was involved in a comprehensive system study, development, interacting with NSCCL on behalf of the bank and final implementation and user training.

Architecture

Client / Server Architecture is used with tools like MS SQL server as the backend database, Visual Basic as the Front end and Crystal report as the report writer.

Client(s)

AXIS Bank Ltd. Mumbai, India