The National Stock Exchange of India on 2nd September 2022, has Clarifications on submission of Client Level Holding Statement, Cash & Cash Equivalent Balances and Bank Account Balances by members. Based on the submissions made by the Members till date, it has come to the notice of the Exchange that certain Members are still incorrectly reporting Client Level Holding Statement, Cash & Cash Equivalent Balances and Bank Account Balances to Exchange.
One of the common reasons observed for incorrect reporting is wrong reporting of client PAN in weekly submissions. It has been observed that PAN uploaded by certain members for their clients in aforesaid weekly submissions are different from the clients PAN uploaded in the UCC database of Exchange. Further, PAN mapped to demat account of the clients in the depositories’ records are different from the client PAN uploaded in the UCC database of Exchange.
Therefore, In view of the same, members are strictly advised to ensure that PAN of all clients is same at all times across the UCC database of exchanges, depositories records and submissions made by members to Exchange. Any non-compliance observed in this regard shall be viewed very seriously by Exchange
Further NSE has reiterated again that Members shall not include the securities lying in the clients’ demat accounts under the block mechanism at the end of the day in the weekly Holding Statement uploaded to Exchange.
The trading members are again advised to ensure that securities of clients lying with clearing member at end of day are reported in their weekly submission of holding statement to Exchange. Members shall specify Clearing Member’s demat account number and mention “CM COLL” under ‘Member Account Type’ field. Quantity of such securities, if any shall be populated in “Free Balance (Qty.)” field. Further, Members are also advised to note that securities for which payin-payout is made to clearing corporations and same are not available with clearing member at the end of day, should not be reported in the weekly Holding Statement submitted to Exchange.
