MCX Circular on - Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011
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Date of Issue: 13-10-2025
Issuer: MCX
Guidelines in pursuance of amendment to SEBI KYC (Know Your client)
Registration Agency (KRA) Regulations, 2011
Highlights of MCX Circular dated October-13-2025
This is with reference to SEBI Circular no. SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated August 11, 2023, and pursuant to Exchange circulars issued on monthly basis in respect to Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011 with the latest MCX circular no. MCX/S&I/453/2025 dated September 10, 2025 on “Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs)” and “Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011.
It is hereby informed that the clients whose KYC are not found to be validated by KRAs i.e. where the KYCs are “On Hold” for any reasons (both AADHAAR and Non- AADHAR based OVD) uploaded to the KRA from Sep 01, 2025 to Sep 30, 2025, shall neither be Permitted to Trade on the Exchange, nor will they be allowed to square up their open positions, if any, w.e.f October 27, 2025 until they comply with the validation requirements. Eventually, such open positions will naturally expire on the expiry date of the respective contract.
The list of non-validated clients as mentioned above will be provided on your designated Email ID.
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.
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.
Members are requested to take note of the above.
In case of any clarification or assistance required in the implementation of this circular, you may contact : Kaushik Jethwa at kau...@secmark.in and 9870210171.
Issuer: MCX
Guidelines in pursuance of amendment to SEBI KYC (Know Your client)
Registration Agency (KRA) Regulations, 2011
Highlights of MCX Circular dated October-13-2025
This is with reference to SEBI Circular no. SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated August 11, 2023, and pursuant to Exchange circulars issued on monthly basis in respect to Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011 with the latest MCX circular no. MCX/S&I/453/2025 dated September 10, 2025 on “Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs)” and “Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011.
It is hereby informed that the clients whose KYC are not found to be validated by KRAs i.e. where the KYCs are “On Hold” for any reasons (both AADHAAR and Non- AADHAR based OVD) uploaded to the KRA from Sep 01, 2025 to Sep 30, 2025, shall neither be Permitted to Trade on the Exchange, nor will they be allowed to square up their open positions, if any, w.e.f October 27, 2025 until they comply with the validation requirements. Eventually, such open positions will naturally expire on the expiry date of the respective contract.
The list of non-validated clients as mentioned above will be provided on your designated Email ID.
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.
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.
Members are requested to take note of the above.
In case of any clarification or assistance required in the implementation of this circular, you may contact : Kaushik Jethwa at kau...@secmark.in and 9870210171.
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