The Multi Commodity Exchange (MCX) on October 28, 2024, notified regarding the Guidelines for Inactive Client Accounts.
The following has been stated:
• Definition of Inactive Trading Account: In case of trading account, the term inactive account refers to such account wherein any of below mentioned activities has not been carried out by client since last 24 (Twenty-Four) months:
o Trading or participation in OFS/buy-back/Open Offer across any of the exchanges/segments* of the exchanges through the same Member or
*Cash/Equity Derivative/Currency Derivative/Commodities Derivative/EGR/Debt/Online Bond Platform/ Execution Only Platform /Any other segment as may be allowed by SEBI/stock exchanges from time to time.
• The Member may send the communication/notification to the clients prior to flagging their trading account as inactive however such communication/notification should not ask the clients to trade in order to prevent their accounts from being flagged as inactive. Any noncompliance in this regard shall be viewed seriously and strict disciplinary actions against the Trading Member may be initiated.
[Notification No MCX/INSP/716/2024]
