SEBI plans clearing interoperability for tender offers by end-November 2026

Generic user silhouette icon Veena Lathe - 0 min read

Last Updated: 12th October 2026 - 12:51 pm

SEBI plans to bring tender offers, share buybacks and offers for sale under clearing interoperability by end-November 2026, SEBI Chairperson Tuhin Kanta Pandey said. He made the announcement at a programme organised by the BSE Brokers Forum.

Parallel clearing remains for transactions outside the framework

Tender offers, share buybacks and offers for sale remain outside SEBI’s current clearing interoperability framework.

SEBI said brokers handling transactions outside the framework may need separate clearing accounts and arrangements with BSE Clearing Corporation and NSE Clearing.

The Brokers’ Industry Standards Forum flagged the requirement for parallel clearing arrangements to SEBI, according to the supplied material.

SEBI clearing interoperability plan covers tender offers, buybacks and OFS

Pandey said implementation of the expanded framework was targeted for end-November 2026.

He said the expansion would improve capital efficiency and lower compliance costs by addressing the need for parallel clearing arrangements, while preserving settlement safety.

Most exchange-traded products are already covered

SEBI said most exchange-traded products are covered by the existing clearing interoperability framework.

The framework allows clearing corporations of different stock exchanges to work together and facilitates cross-exchange netting of eligible positions, SEBI said.

SEBI introduced interoperability among clearing corporations in June 2019.

Operational details await SEBI’s expanded framework

SEBI said the operating arrangements for the additional transaction categories will depend on the framework it finalises for expanded coverage.

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