compliance guide - MCX
compliance guide - MCX
compliance guide - MCX
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Compliance GuideCHAPTER IVClientele Transaction1. Creation and allotment of Unique Client Code (UCC)1.1 UCC Uploading to the ExchangeThe Member shall upload UCC details before execution of the trade whenever a new client isregistered as per Circular No. <strong>MCX</strong>/T&S/085 dated March 05, 2007, Circular No.<strong>MCX</strong>/T&S/109/2007 dated March 24, 2007, Circular No. <strong>MCX</strong>/T&S/405/2008 dated December20, 2008 and <strong>MCX</strong>/T&S/355/2011 dated October 10, 2011. Further, as per Circular no.<strong>MCX</strong>/T&S/050/2013 dated February 13, 2013 and Circular No. <strong>MCX</strong>/T&S/093/2013 dated March07, 2013, all the members are required to upload the mobile number and / or email address ofthe new clients while updating the UCC database and registering new clients. It may be notedthat uploading the mobile number is a mandatory field in the UCC application. Hence, themembers are directed not to place orders of the clients whose mobile number is not uploadedin the UCC database of the Exchange. However, as per circular no. <strong>MCX</strong>/T&S/224/2013 datedJune 25, 2013 registration of email id of the clients is not a mandatory requirement forexecution of trade. Hence, the members should not prevent their clients from trading in casethey have not submitted their email address to the member / Exchange.The penalty applicable for non-submission of UCC details will be charged on a daily basis. Thedetails uploaded in UCC with Exchange must be up to date with respect to address/PANdetails/Contact details.1.2 Allotting Single Client CodeAs per Bye-law 5.21, Circular No. <strong>MCX</strong>/COMP/088/2008 dated March 04, 2008, Circular No.<strong>MCX</strong>/COMP/317/2008 dated October 07, 2008, Circular No. <strong>MCX</strong>/COMP/113/2010 dated April05, 2010, and Circular No. <strong>MCX</strong>/ T&S/ 074/2011 dated March 12, 2011 Members are notpermitted to allot multiple client code to the single client. All additional client codes to a singleclient (inactive client) are to be deactivated / frozen immediately and should not be used fortrading.2. Modification of Client CodeA special facility is provided to Members for client code modification by the Exchange in case ofgenuine punching error of the dealer while entering the client codes. The same is presented asbelow:‣ Member can change client ID of executed trades only in the post-closing session of thatcommodity as per Business Rules 27(v), Circular No. <strong>MCX</strong>/T&S/166/2007 dated April 30,2007 and Circular no. <strong>MCX</strong>/T&S/343/2011 dated September 30, 2011 and- 24 -
Change language