NCCPL launches simultaneous account opening for investors from May 20, 2024

MG News | May 15, 2024 at 11:04 AM GMT+05:00

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May 15, 2024 (MLN): The National Clearing Company of Pakistan Limited (NCCPL) has announced the implementation of the Simultaneous Account Opening facility, a significant enhancement to facilitate market participants in seamlessly opening multiple trading accounts effective from May 20, 2024.

In this respect, as per the existing KYC Information System (KIS), an investor can only open a trading account with another Authorized Intermediary (AI) once their KYC process is completed and UKN is issued.

NCCPL has advised all AIs to ensure their readiness for system changes notified by NCCPL, (to AI and respective Back Office Vendors) for implementation before Go-Live Date.

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