The National Stock Exchange (NSE) on September 23, 2024, issued the Clarifications on Reporting of Segregation and Monitoring of collateral at Client level Submission.
The following has been stated namely: -
- Members are required to report upfront segment-wise allocation of client’s collateral to Clearing Corporations in their respective client’s unique client code (UCC) only
- Broker’s Industry Standards Forum (ISF) and after consideration of the same by SEBI, members are requested to note followings clarifications:
- Member shall create a designated UCC “SUSPE1234N” on the PAN of member in the back office under which such unidentified/suspense account funds shall be allocated and reported to CCs under aforesaid submission. Member shall keep unidentified credits or suspense account funds upstreamed to clearing corporations
- Member shall not create said UCC in the UCC database of Exchanges and accordingly, orders should not be permitted by trading members on said UCC.
- Members are advised to ensure compliance of aforesaid requirement on or before December 19, 2024
- Please refer to the notification to refer to the clarifications provided with regard to reporting of segregation and monitoring of collateral at client level.
[Notification No. NCL/CMPL/64088]
