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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Enhancement of operational efficiency and Risk Reduction - Pay-out of securities directly to client demat account

23-Aug-2024 | NSE/ISC/63535

NSE has issued a circular in reference to SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/75 reagrding Enhancement of operational efficiency and Risk Reduction - Pay-out of securities directly to client demat account.

Vide this circular, the trading members are requested to take note of the following guidelines in order to ensure that all the eligible UCCs (across all segments) have the indication of Primary/Secondary in the demat accounts as the payouts shall be directly transferred to the demat accounts identified as Primary:
a) Make relevant changes in the demat account details available in the UCC database, if any.
b) Update the Primary / Secondary indicator for demat accounts for all existing UCC details (wherever not updated).
c) Updation of the relevant fields can be done via the modification file format.

Members are requested to take note of the above guidelines and ensure all the requisite information is updated in the system latest by August 30, 2024.

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