Description

NSE master circular consolidating guidelines for Unique Client Code (UCC) system including bulk upload file format specifications, segment-wise applicability, and compliance requirements for trading members.

Summary

NSE has issued a Master Circular for the Unique Client Code (UCC) system, consolidating all guidelines related to client identification and registration across market segments. The circular specifies the file format, structure, and field-level requirements for bulk uploading UCC data for all segments including Cash Market (CM), Futures & Options (FO), Currency Derivatives (CDS), Securities Lending & Borrowing (SLB), Debt, and Commodity segments.

Key Points

  • UCC bulk upload file must follow the naming convention: UCI_YYYYMMDD.Tnn (pipe-delimited format)
  • File batch numbers run from 01 to 99; business date in filename must match the date field in the control record
  • Account types are: OWN (proprietary trading by TM), ERROR (error account with member PAN), and CLIENT (all other entities)
  • UPI opt-in field is applicable only for Individual and HUF categories (categories 1 & 3); values: Y (Registered), N (Not opted), NA (Not applicable), D (Deregistered)
  • Segment codes: C (Cash Market), F (F&O), X (CDS), S (SLB), D (Debt), CO (Commodity)
  • Where Account Type is OWN, PAN must belong to the trading member
  • Where Account Type is ERROR, client code must be ERROR or ERROR% (where % is a number) and PAN must be of the member
  • UPI facility is not applicable for PAN-exempt cases (value must be NA)
  • For Individual/HUF clients with custodian details, UPI opt field shall be NA

Regulatory Changes

  • Consolidated master circular superseding previous individual circulars on UCC
  • Updated file structure for bulk UCC uploads applicable across all trading segments
  • Standardized account type classification (OWN/ERROR/CLIENT) for proprietary and client accounts
  • UPI deregistration now supported via status D (can only transition from Y)

Compliance Requirements

  • All trading members must upload UCC data using the prescribed pipe-delimited file format (UCI_YYYYMMDD.Tnn)
  • Control record must include: Record Type (10), Member Type (M), Member Code (5-char TM code), Date (DDMMYYYY), Batch Number, and Total Number of Detail Records
  • Detail records must correctly classify each client under the appropriate Account Type (OWN/ERROR/CLIENT)
  • UPI opt-in status must be accurately reported for all Individual and HUF clients in the Cash Market segment
  • Segment field must use the correct code for each applicable segment per client
  • Trading members must ensure PAN consistency with Account Type selection

Important Dates

  • Circular issued: 2026-04-30
  • Effective immediately as a master circular consolidating existing UCC guidelines

Impact Assessment

  • Trading Members: Significant operational impact — all members must ensure their UCC bulk upload systems conform to the updated file format specifications across all six segments
  • Client Onboarding: Standardized classification of OWN, ERROR, and CLIENT account types streamlines compliance checks and audit trails
  • UPI Integration: Cash market participants with Individual/HUF clients must maintain accurate UPI registration status, including support for deregistration
  • Multi-segment Operations: Members active across CM, FO, CDS, SLB, Debt, and Commodity segments must ensure segment-specific UCC submissions are correctly coded
  • System/IT Impact: Back-office and upload systems may require updates to handle the prescribed file naming conventions, field lengths, and mandatory/optional field rules

Impact Justification

Master circular affecting all trading members across all segments with mandatory UCC compliance requirements and specific file format specifications for client code uploads.