The National Commodity & Derivatives Exchange Limited (NCDEX) on March 11, 2025, issued the notification regarding the Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011.
The following has been stated namely: -
• Clients whose KYC are not found to be validated by KRAs for the following-
o KYCs which are “On Hold” for any reasons (both AADHAAR and Non-AADHAAR based OVD) uploaded to the KRA from February 01, 2025 to February 28, 2025.
• Such UCCs shall neither be permitted to trade on the Exchange, nor will they be able to square up their open positions, if any, w.e.f. March 24, 2025 until they comply with the aforesaid requirement. Eventually, such open positions will naturally expire on the expiry date of the respective contract.
• All PANs that become KRA compliant subsequently, will be permitted to trade on T+1, based on the information received from KRA by the Exchange on T day.
• The list of non-validated clients as mentioned above is provided under the below mentioned Path: WEB Extranet - Download files screen - Reports- Dnld
• In view of the above, all the members are advised to take note of the same and ensure that clients whose KYCs are not found to be validated by KRAs are not permitted to trade. Further, the members are also advised to specifically monitor the open positions, if any, of such clients and take appropriate measures to ensure compliance.
[Notification No. NCDEX/MEMBERSHIP-08/2025]
