The National Stock Exchange and Bombay Stock Exchange have currently issued two respective Frequently Asked Questions (“FAQs”) for all their respective trading members. The current FAQ clarifies the following, among others:
- Is it mandatory to register new / existing clients in all the Exchanges?
- Does an existing client need to sign the trading preference to get enabled in other Exchanges as per the new format?
- Is it mandatory to provide Opt-out facility to clients?
- Does the information need to be updated in UCC system as per this circular?
- Whether the trading members can implement the provisions of the circular on immediate basis before the applicable date as provided in the SEBI circular.
- In case of existing clients, if UCC is currently created only in one exchange for a segment as per client’s preference in KYC, then it needs to be done in other exchanges for that segment. What if client might not be interested to trade in other exchanges?
- If the trading member is not registered in a particular segment in any of the Exchanges, whether the said segment can be removed from the format?
Source : National Stock Exchange and Bombay Stock Exchange
