NCCL advices security brokers to fasten up registration process for CKO function

May 2, 2019 (MLN): With regards to implementation of Centralized Know Your Customer (KYC) Organization “CKO” functions by the National Clearing Company of Pakistan, the Securities Brokers were advised to immediately start AI registration process and complete the same latest by April 30, 2019 to obtain necessary access credential to CKO system that would allow them to register New Customer and to generate UKN Tagging request in KIS.

Moreover, Securities Brokers were also requested to arrange the Biometric Devices as per the stated timeline of May 03, 2019.

In this connection, Securities Brokers who are still in process of completing the AI registration process are requested to immediately fulfil the requirement of obtaining the AI setup before go-live date in order to avoid any disciplinary action under CKO Regulations, 2018.

For the facilitation of Market Participants, “CKO Mobile App” has also been made available to facilitate the biometric verifications at the investor’s doorstep. Through this app, the Market Participants will no more be restricted to carry out the biometric verification within their premises.

The Market Participants will be able to easily download the mobile app on their smart phones and carry along the biometric scanner to facilitate the investors’ biometric verifications as per their convenience. Such app has also been made available under the on-going Mock environment.

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