MCX Circular on -Change in PAN Verification Mechanism

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Contact: 9869265949,9870210171,  in...@secmark.in, kau...@secmark.in

Date of Issue: 13-3-2024

Issuer: MCX

Change in PAN Verification Mechanism 

Highlights of MCX Circular dated March 13, 2024

In terms of the provisions of the Rules, Bye-Laws and Business Rules of the Exchange and with reference to Exchange Circular No. MCX/TECH/023/2022 dated January 13, 2022.

The Exchange is in receipt of a communication from Protean eGov Technologies Limited (Protean) regarding changes in the PAN verification methodology with effect from April 01, 2024. The changes which are applicable for creation/modification of UCC using the File Upload / Bancs-GUI are as under:-

# Member to enter the details in UCC database of the Exchange as per the description mentioned above.

Further, PAN verification shall be considered successful only when the status of all the three fields i.e. PAN, Client Name and Date of Birth / Incorporation are successfully verified with the details available with Protean.

In case of modification in the above fields (i.e. Client Name and Date of Birth / Incorporation) on account of mismatch with Protean, the Members needs to submit the request to the Exchange. The format for submission of above request will be intimated in due course of time.   

In case of any clarification or assistance required in the implementation of this circular, you may contact

Vandana Vania - van...@secmark.in / 9223303460         

Kaushik Jethwa - kau...@secmark.in / 9870210171

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