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Depositories
Depositories are important intermediaries
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Depository Participants
Depository Participant is an agent of the
depository
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Services of Depository
Depository allots and settles shares
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Functions of Depository
Depository eleminates physical movement of
shares
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Beneficiary Account
Opened by investors to hold their securities
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Clearing member A/c
There are two types of clearing members
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Dematerialisable Securities
Shares, scrips, stocks, bonds debentures etc
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Procedure for Demat
It involves five procedures
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Off Market transaction
Seller gives delivery instructions to his DP
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Mkt Settlement–Demat Shares
Mkt trade is settled through clearing corp
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Lender to intermediary
Lending of secs by intermediary to borrower
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Intermediary to borrower
Securities are moved from intermediary’s a/c
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