Mumbai, Feb. 27 -- A dispute over unpaid fees between National Stock Exchange Ltd (NSE) and the clearing subsidiary owned by its rival BSE Ltd appears to be nearing resolution, said two people aware of the development.

Markets regulator Securities and Exchange Board of India is informally nudging the NSE and Indian Clearing Corporation Ltd (ICCL) to resolve matter at the earliest, the people said on the condition of anonymity as they are not authorized to speak to the media. The regulator has asked one of its officials to keep a tab on this resolution, they said.

Widespread reporting of the issue in the press in the past few weeks seems to have prompted Sebi to informally mediate, encouraging both parties to reach a resolution, said the...