The Multi Commodity Exchange of India Limited (MCX), on May 12, 2026, issued guidelines in pursuance of amendments to the SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011. The circular refers to SEBI’s framework on simplification of KYC processes and rationalisation of risk management measures at KRAs, along with earlier MCX circulars issued on the subject.
MCX informed members that clients whose KYC records uploaded to KRAs between April 1, 2026 and April 30, 2026 remain “On Hold” for any reason, including both Aadhaar and non-Aadhaar based Officially Valid Documents (OVD), shall not be permitted to trade on the Exchange with effect from May 25, 2026. Such clients will also not be allowed to square up their open positions until KYC validation requirements are fulfilled, and existing positions will expire naturally on the respective contract expiry dates.
The Exchange further stated that the list of non-validated clients will be shared with members through their designated email IDs. PANs becoming KRA compliant subsequently will be enabled for trading on T+1 basis based on information received from KRAs. Members have been advised to monitor such client positions and ensure strict compliance with the circular directions.
[Circular No. MCX/S&I/278/2026]
