NISM Certifications · NISM-Series-VII: Securities Operations and Risk Management · Introduction to Securities Broking Operations
In the context of securities broking operations, what is the Unique Client Code (UCC) that a trading member must map to each client?
The Unique Client Code is a code that identifies each client uniquely on the exchange trading system. Orders and trades are entered and reported against it, so that every trade can be tied to the correct client by the trading member.
- AA code that identifies each client uniquely on the exchange trading system and is used to place and report that client's ordersCorrect
- BA code allotted by the depository to identify each demat account holder for corporate actions
- CA code allotted by SEBI to each listed company for disclosure filings
- DA code used only by the clearing corporation to identify its clearing members
Explanation
Each client of a trading member is identified on the exchange system through a Unique Client Code. Orders are entered and trades reported against this code, which links trades to the right client. The depository account number is a different identifier, and company or clearing member codes serve other purposes.
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