NCMS - OTP based Two Factor Authentication and upgradation of NCMS version

NSE Clearing Limited, vide Circular No. NCL/CMPT/75369 dated July 23, 2026, has announced an important update regarding implementation of OTP-based Two Factor Authentication (2FA) and upgradation of the NCMS-CM version.

Key Details of the Update –
• NSE Clearing Limited has introduced OTP-based Two Factor Authentication (2FA) to enhance the security of user login for the NCMS-CM application.
• Applicability: All Members using NCMS-CM, including Admin users and Sub-users.
• OTP-based 2FA will be mandatory for all user logins to NCMS-CM.
• On first login after implementation, users will be required to register a valid mobile number and email ID. OTPs will thereafter be sent to the registered mobile number and email ID for authentication.
• Members are required to upgrade to NCMS EXE Version 4.2.3, which will be made available from the implementation date.
• The user manual provides the login process, OTP verification workflow, OTP regeneration after 30 seconds in case of an invalid OTP, and user ID disablement after four invalid OTP attempts.
• Effective Date: OTP-based Two Factor Authentication (2FA) and NCMS EXE Version 4.2.3 shall be implemented with effect from July 25, 2026.
• Penalty/Consequence: In case four invalid OTPs are entered, the user ID will be disabled and the member will be required to contact NSE Clearing Limited for reactivation.

Actions if Any –
• Members shall upgrade to NCMS EXE Version 4.2.3 before using NCMS-CM from July 25, 2026.
• Members shall register a valid mobile number and email ID during the first login to enable OTP-based authentication.
• Members shall use OTP-based Two Factor Authentication for every NCMS-CM login from the effective date.

Compliance Deadline –
• OTP-based Two Factor Authentication (2FA) and NCMS EXE Version 4.2.3 shall be implemented with effect from July 25, 2026.