The National Stock Exchange (NSE) on November 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:
• The Exchange is conducting an exercise to validate Primary / Secondary demat accounts details uploaded in the Exchange Unique Client Code (UCC) database. Demat account details of current active UCCs have been validated with the respective Depositories, the same had been earlier shared with Trading Members. Further, on an incremental basis, demat account details of new UCCs being created or existing UCCs wherein demat account details have been modified are also being validated with the depositories on an on-going basis.
• In order to assist the Trading Members to identify the validation status of the demat accounts and rectify where-ever necessary, the Exchange is disseminating “segment wise demat account validation report” on the extranet by EOD daily. This report provides a comprehensive overview of the validation status of all active UCCs.
[Notification No NSE/ISC/64967]
