The Bombay Stock Exchange (BSE) on October 08, 2024, notified regarding the enhancement of operational efficiency and Risk Reduction - Pay-out of securities directly to client demat account.
The following has been stated namely: -
• The Exchange has designated demat account 1 as the primary account, validated existing accounts in the UCC database with Depositories, and shared primary account details with Clearing Corporations while providing non-validated details to Trading Members.
• It states that effective from October 11, 2024, fresh UCC registrations and modifications will be sent to Depositories for validation, with all validated UCCs sent to Clearing Corporations by 5 p.m., while NRI demat account details will not be shared with CCs until January 13, 2025, allowing current payout processes to continue until then.
Refer to the attached document for detailed notification.
[Circular no. - 20241008-32]
