Unique Client Code (UCC)

Yes, UCC/PAN validation mechanism is applicable for PRO (Proprietary) as well as CLI (Clients) - Custodial Participant (CP), Non-Custodial Participant (Non-CP) orders and Buyback orders.

Once a UCC is uploaded to the Exchange, the following parameters are verified for marking the PAN as Approved i.e. A.

• PAN
• Name (Name should either be “As per Income Tax records or “As appearing on the PAN Card”)
• Date of Birth (DOB) / Date of Incorporation (DOI).

It may be noted that only in cases where all the above 3 parameters match, the record shall be marked as “Approved” (A) else it shall be marked as “Incorrect” (I). Once a PAN is marked as “I”, the record is not eligible to be marked as “Permitted to Trade”(PTT).

Trading Members are requested to refer to the Exchange circular reference no. NSE/ISC/61817 dated April 30, 2024. The circular contains following file formats:

• Bulk upload – New upload of UCCs,
• Bulk upload – Modification of UCCs,
• Bulk Unfreeze,
• API - TDD-UCI External interface-LIVE-V2.0,
• API - TDD-UCI External interface-UAT-V2.0.
• Bulk upload facility for Category disclosure for Commodity Segment.
• File structure to update Client Status – Active/Inactive/Closed

The files contain field wise requirement and validation.

To get the all the UCC records uploaded by the trading members in the Exchange UCC database, the trading members are required to place a full file request. Trading Members can select the appropriate fields like segment and period; accordingly, the report shall be generated in available in the UCI portal to download on the next working day.

Exchange downloads a short file on a weekly basis containing data of all UCCs uploaded by the Trading members. The structure of the report is provided in Annexure H, sheet E of the Exchange master circular ref no. NSE/ISC/61817 dated April 30, 2024.

This file is downloaded to all the Trading Members by the Exchange and no specific request is required from the Trading Members.

Full file and mandatory report are available on UCI member portal under Download option

Full file path: UCI Online > Download > Full File

Mandatory report path: UCI Online > Download > Report for Mandatory

Trading Members can refer to point no. 4 for file formats. Further there is no separate file format only for a single UCC modification. Trading Members can use the bulk modification file for a single UCC modification.

Under normal circumstances UCC's identified as compliant by the Exchange at 22.00 hrs on the previous day shall be considered as 'permitted to trade' for the next trading day. However, in the event of any exigencies, the UCC's identified as 'compliant' by the Exchange at 14.30 hrs shall be considered for order placements on the subsequent trading day.

Trading Members can check the 'Exchange status' of UCC to know whether the UCC is permitted to Trade or not in report name "SEG_ TMCODE_UCC_ TRADING_STATUS_DDMMYYYY_nn".

The structure of this report and availability of the report details has been provided in NSE circular NSE/ISC/51754 dated March 24, 2022. Further for any other UCC related query, Trading Members (TMs) may approach the UCI team. [email id - uci@nse.co.in or Toll Free: 1800 266 0050 (option 5)]

TMs can check the 'Exchange status' of UCC to know whether the UCC is permitted to Trade or not in report name "SEG_TM CODE_RECORDS_NOT_PERMITTED_TO_TRADE_DDMMYYYY.CSV". Trading Members can apply filters in relevant fields on the data/report to identify the appropriate reason for a UCC being not permitted to trade.

The structure of this report and availability of the report details has been provided in NSE circular NSE/ISC/58200 dated September 02, 2023. Further for any other UCC related query, Trading Members may approach the UCI team. [email id - uci@nse.co.in or Toll Free: 1800 266 0050 (option 5)]

Trading Members can refer to point no. 10 & 11 for file name & path. Further Exchange upload Permitted to Trade File twice in a day and Not Permitted to Trade File once a day.

6-KYC parameters include Name (Name as per PAN), Complete address (including all address validations and PIN code No. in case of address of India), PAN, Mobile number, Email-id, Gross income details/range and all relevant fields pertaining to Custodian details updated for clients availing custodian services. Only when all the afore-said parameters are successful a UCC becomes eligible to be considered for PTT.

As and when Exchange receives non-compliant PANs from KRA, the Exchange downloads these PANs to the Trading Members and provides adequate time to either get these PANs validated or square off the open positions. Further, on the day of blocking, Exchange blocks the PANs which are still KRA Non-compliant.

If the PAN is found to be KRA compliant, and still reflecting in the Not permitted to trade file as KRA = N (KRA flag), kindly take it up with the respective KRAs to inform the Exchange correct and updated KRA status.

Once the following parameters are successful, then the record becomes “Permitted to Trade”

• The client status marked by the TM should be Active
• Valid PAN
• 6 KYC attributes as mentioned in point 13.
• Status of PAN with KRA being Valid / Registered.

If the UCC is not permitted to trade due to KYC validation, shall not be allowed to trade unless complies with the requirement. Trading Members can refer not permitted to trade file to check the UCCs.

In addition to that if “client status by member” is inactive/closed. Address line 1 & 2, Address line 1 & 3 and Address line 2 & 3 is same. Address line 1 is starting with Client’s Name.

If client verification status, is “I”/ “P” means “Incorrect” / “Pending”. Only where PAN verification status is “A” (Approved) shall be considered for trading. Trading Members can view the same at both the front end and from various files provided.

If the client status is Inactive/Closed shall be marked as not permitted to trade and cannot trade. Only Active UCCs can trade.

Trading Members may request Name & PAN change after providing necessary relevant proofs to the Exchange. Such a request shall be accepted only if found appropriate basis the documents provided. If in case Exchange does not find the document satisfactory, such request shall be rejected.

Trading Members can refer to point no. 4 for file formats.

For single client details modification, Trading Members can raise a single request from front end under “other options > unfreezing requests > New request”.

For multiple client’s member can create bulk unfreeze file and upload it in the portal.

Trading Members can refer to points no. 4 & 21 for the name change process. It is to be noted that in any condition, once UCC is allotted in the Exchange UCI portal, cannot be modified. Trading Members can modify the client details but not the code itself. Hence, UCC created for ERROR code cannot be modified.

Trading Members can refer to the master circular reference no. NSE/ISC/61817 dated April 30, 2024 for the bulk file format to change the client status. Trading Members can update the client status of their clients as Active, Inactive and Closed in UCI portal

For single client status update follow below path:

UCI Online > Client Details > Update Client Status.

For bulk Client status update

The Trading Members can upload the Client status details for more than one client through file upload on the following path. Format attached as (Annexure G)

UCI Online > Client Details >Upload Client Status

Trading Members can refer to point no 4 for bulk upload or bulk modification file to update choice of nomination.

Further, for a single UCC Trading Members can update the choice of nomination from the front-end query client option.

It may be noted that, as per circular NSE/ISC/58591 dated September 26, 2023 updation of choice of nomination has been made voluntary for trading account.

Trading Members can change client status, from Inactive to Active or Close. However, the UCC shall be permitted to trade, only after all the validations are successful.

Trading Members need to pay attention to the fact that once the UCC is marked as Closed i.e. “C”, then they cannot change it to Inactive or Active.

Trading Members are requested to refer point no. 4 for documents related to API and requirements.

UCI API is not a web-based portal, it is a tool-based facility. Trading Members who wish to use API facility, need to register for the UAT and Live access. Once the registration process is completed, Trading Members need to send an email to uci@nse.co.in with the successful registration screen shot. On receipt of the same, Trading Members will be activated for API facility.

During the registration process only, the Trading Members need to create their Password. It may be noted that the username is always the “Trading Member code”. Trading Members can use the reset password option, in case they have forgotten the password.

SEBI vide its circular no. SEBI/HO/MIRSD/DOP/CIR/P/2019/136 dated November 15, 2019 has made mandatory to map clients’ UCC with their demat accounts. Once the trading member creates the UCC at the Exchange platform, the records are sent to depository at regular intervals.

Stock Exchanges and Depositories has a mechanism in place to ensure that inactive, non-operational UCCs are not misused and such UCCs are weeded out in the process of mapping clients’ UCC with their demat account.

Hence Trading Members need to pay attention to the fact that ONLY ACTIVE UCCs (client status) get mapped with their respective depositories.

Client category is visible in the member portal itself. Trading Members can search for the UCC under query client option and look for client category or can refer the various files downloaded by the Exchange.

Trading Members need to login into UCI portal. Then go to Client details > view client status > Generate report. Trading Members can input PAN and check for multiple UCCs.

Vide Exchange circular reference no. NSE/ISC/62244 dated May 30, 2024 PAN-Aadhaar seeding is no longer a parameter for a UCC to become permitted to trade and trade.

Pursuant to SEBI circular no. SEBI/HO/EFD1/EFD1_DRA4/P/CIR/2022/104 dated July 29, 2022 and NSE Circular No. NSE/ISC/56507 dated April 26, 2023 regarding ‘Framework for automated deactivation of trading and demat accounts in cases of inadequate KYCs’ PANs are debarred in case of unsuccessful delivery of Show cause notice / order issued by SEBI.

List of such entity details is available on NSE website: Path: https://www.nseindia.com/invest/investors-regulatory-actions > List of PANs deactivated on account of non-delivery of SCN Orders in cases of inadequate KYCs.pdf

If the PAN is blocked due to non-delivery of SCN Orders, Trading members can approach UCI team for unblocking along with the proof of successful delivery (acknowledgement) and Re-KYC completed.

If the member is getting error message as “Member Debarred”, Trading Members can approach UCI team @ uci@nse.co.in for the reason of blocking.

If the PAN is debarred other than the reasons mentioned above, trading members may approach investigation team.

While creating the sub user in UCI portal, to upload/download file (bulk upload, bulk modification, bulk unfreeze etc.), it is mandatory to provide both Extranet upload/download rights along with UCI portal to perform the action properly.

SEBI had issued a circular having reference no. SEBI/HO/MRD/MRD-PoD-2/P/CIR/2023/99 dated July 23, 2023, on “Trading Supported by Blocked Amount in Secondary Market” whereby It has introduced a supplementary process for trading in secondary market based on blocked funds in investor’s bank account, instead of transferring them upfront to the trading member. The said facility would be provided by integrating Reserve Bank of India (RBI) approved Unified Payments Interface (UPI) mandate service of single-block-and-multiple-debits with the secondary market trading and settlement process and hereinafter referred as ‘UPI block facility’.

• Availing UPI block facility shall be at the option of the investor.
• Shall be introduced as a non-mandatory facility to be provided by the Trading Member.
• Since an investor is allowed to have trading accounts across multiple Trading Member, an investor can choose to avail UPI block facility under some Trading Member(s) and non-UPI based trading under others. Clients can opt out of UPI once the obligations are fulfilled.
• The Trading Member providing the facility shall notify the details of investors desirous of availing the service to the Stock Exchange. The Stock Exchange shall validate that bank and demat account maintained in the Unique Client code (‘UCC’) systems and used for block creation and settlement. The Exchanges shall provide relevant details to the CC.

UPI is applicable for client categories 'Individual and HUF' (1 & 3) only in Cash segment only.

Following are the status present in the UCC for UPI:

• Registered - Y
• Not opted - N
• Not applicable - NA
• Deregistered - D

• The ‘Opt for UPI’ value for 'Individual and HUF' can be "Y" or "N"
• For Individual and HUF category where custodian details have been provided then value shall be "NA"
• For categories other than applicable categories the value shall be "NA"
• This facility shall not be applicable for "PAN_EXEMPT" cases and the value shall be "NA"

In case the client had earlier opted for UPI and the status of UPI is “Y” in UCC and wishes to deregister from the UPI facility, the trading member need to first mark UPI status as “D”. Only once the CCs approves the deregistration request (UPI status = V) and the same is visible in UCC, only then trading member can mark the UPI field as “N”. Till such time the UCC status is not appearing as “V”, trading member should not change the opt for UPI status to “N”.

The Investor Risk Reduction Access platform, also known as IRRA, is a platform jointly developed by stock exchanges as per the guidelines issued by SEBI vide circular no. SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2022/177 dated December 30,2022.

IRRA platform will be available in case of disruption of trading services provided by the Trading Member (TM). Its purpose is to provide investors with an opportunity to square off/close their open positions and cancel pending orders using the IRRA platform in case of technical glitches or unforeseen outages that render the Trading Member's site inaccessible. IRRA platform will be available from October 03, 2023.

The Exchange has issued circular NSE/ISC/58390 dated September 14, 2023 and NSE/ISC/58533 dated September 22, 2023.