The National Stock Exchange (NSE) on October 18, 2023, issued a notification regarding the Trading Supported by Blocked Amount in Secondary Market - Revised batch upload file format UCC
This is with reference to the recent developments in compliance with SEBI circular no. SEBI /HO/MRD/MRD-PoD-2/P/CIR/2023/99 dated June 23, 2023, and Exchange Circular ref. no. NSE/INSP/57314 dated June 27, 2023, concerning "Trading supported by Blocked Amount in Secondary Market." This circular introduces an additional process for trading in the secondary market, specifically utilizing funds locked in an investor's bank account. Kindly note that this service is exclusively available to ‘Individuals’ and ‘HUF’ category clients and would currently be available for ‘Equity Segment
The following enhancements have been made to the Unique Client Code file structure to facilitate Trading Members in accessing this facility namely: -
• It states that the clients interested in utilizing the ‘Unified Payments Interface (UPI)’ for this facility, we have included an "Opt for UPI" field in the UCI file structure.
• The Trading Members can provide up to 5 Bank and Demat account details for their clients (at least one Bank and Demat account is mandatory). Trading Members shall ensure that NRE bank account details are not provided.
• Under the UPI mechanism, the primary holder's name and PAN will undergo verification against the Bank and Demat account details provided by the client. If disparities or mismatches are detected, the record will not be validated by the NPCI/Depositories and the client will not be eligible for utilizing the ‘Unified Payments Interface (UPI)’.
• To use the UPI facility, clients must designate at least one Bank and one Demat account as their primary account, out of the multiple accounts they have updated. Other Bank and Demat accounts are to be marked as “Secondary”. Although clients can update multiple Bank and Demat accounts, payouts will only be processed in the primary account opted by them. Subsequent, to the successful payout, the clients can change their primary account/s subject to validation done by NPIC/Depositories.
• Bank account details include Bank Account Name, IFSC Code, and Bank Account Number.
[Notification No. NSE/ISC/59004]
