The National Commodity and Derivatives Exchange Limited (NCDEX) on September 23, 2024, notified regarding the restriction on use of certain words by Trading Member/Authorized person in their name.
The following has been stated namely: -
• It is in reference to Exchange vide circular no.: NCDEX/MEMBERSHIP-30/2024 dated June 28, 2024, where members were advised to change their name or the name of their registered Authorized Persons (APs) if it contains restricted words indicating a role for which the entity is not registered by September 30, 2024.
• It mentions that failure to comply with the prescribed timelines will be treated as non-compliance, and the disciplinary action will be initiated:
o In case of failure to comply by September 30, 2024 - A warning letter will be issued to member.
o Continued non-compliance for 2 months post issuance of the warning letter - Fresh UCC registration will be disallowed for non-compliant members.
[Circular no. - NCDEX/MEMBERSHIP-42/2024]
