IND BSE Unique Client Code Format

On Feb. 23, IND BSE revised file formats in the UCC system.

  • IND BSE revised file formats in the unique client code (UCC) system due to the changes in the PAN verification methodology, with effect from Mar. 28, 2024.
  • Amendments
  • Include client name, client name description, date of birth and date of incorporation.
  • Successful PAN verification requires the status of all the 3 parameters including PAN, client name, client date of birth/incorporation/registration to be successfully verified.
  • Any modification to the parameters can be done only by way of unfreeze requests.
  • Effectiveness
  • New structure shall be implemented from Mar. 28, 2024; records uploaded or modified in the old format shall not be accepted with effect from the end of that day.
  • Feb. 23, 2024 IND NSE
  • On Feb. 23, 2024, IND NSE announced the revised file formats in the UCC system.
  • Document dated Feb. 23, 2024, received from IND NSE Feb. 26, summarized Feb. 28.
  • Mar. 2024 Test Environment
  • On Mar. 20, 2024, IND BSE said user acceptance testing (UAT) environment is available to trading members for testing the revised file format; accessible via its site.
  • An API-based platform for UCC upload onto the exchange is also being provided.
  • Reminded members that old format would be discontinued from end of day Mar. 28, 2024; if appropriate changes are not carried out within this timeline, onboarding process for trading members may be affected, could have potential business impact.
  • Members are advised test prior to uploading/modifying the UCC in live environment.
  • Mar. 22, 2024 IND NSE on Revised Formats
  • On Mar. 22, 2024, IND NSE announced the revised file formats in the UCC system; effective Mar. 30, 2024, UCC uploaded/modified should be done in new file format only.
  • Mar. 27, 2024 IND NSE, IND BSE Warning
  • On Mar. 27, 2024, IND NSE, IND BSE notified timeline for changes in PAN verification.
  • Trading members need to adhere to new format as existing one will be discontinued.
  • New structure will replace the existing format entirely from Apr. 19, 2024 end of day.

Regulators IND BSE; IND NSE
Entity Types B/D; Corp; Exch
Reference Nt 20240327-60, Cir NSE/ISC/61348, 17/2024, 3/27/2024; Cir NSE/ISC/61299, 15/2024, 3/22/2024; Nt 20240320-42, 3/20/2024; Cir NSE/ISC/60830, 09/2024, 2/23/2024; Nt 20240223-42, 2/23/2024
Functions Compliance; Financial; Operations; Technology; Trade Reporting; Trading
Countries India
Products Derivatives; Equity; Fixed Income; Forex; Issuance/IPO; Mutual Funds; Securities
Regions AP
Rule Type Final
Rule Date 2/23/2024
Effective Date 4/19/2024
Rule Id 202227
Linked to Rule :205930
Reg. Last Update 3/27/2024
Report Section International

Last substantive update on 04/03/2024