Indian market needs 24/7 trading than real-time clearing, settlement, says expert
This story was originally published at 21:08 IST on 7 October 2025
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MUMBAI – Indian markets need to have 24/7 trading rather than real-time settlement and clearance, said Vikram Kothari, managing director and chief executive officer of NSE Clearing Ltd., Tuesday in a panel discussion at the Global Fintech Fest 2025.
"We need to segregate 24/7 trading versus 24/7 clearing and settlement. There are inherent benefits of 24/7 trading but when you look at clearing and settlement, you will need to resort to RTGS (real-time gross settlement) where you lose the benefit of netting and the multilateral netting that is available," Kothari said.
In the same panel discussion, Vaisshali Babu, managing director and chief executive officer of Indian Clearing Corp., said the country's financial markets need to have a proper legal structure, taxation framework and enforceability of the rules. "...from the typical CC (clearing corporation) point of view, I see a good role to be there to bring the sanctity, to bring the kind of stability to the overall clearing and settlement process," she said.
Nehal Vora, managing director of the Central Depository Services, said, "We should be building this to the next level where not only one asset class or securities market, but we can have all financial assets under the same roof where there is an interplay happening between all kinds of financial assets insurance, banking, pension, securities." He said the segregated account structure can be achieved only with technology.
"I think the most important thing, again, we have to keep on reminding ourselves that we are dealing not with money. We are dealing with trust," Vora said. End
Reported by J. Navya Sruthi
Edited by Deepshikha Bhardwaj
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