Home : Joining NSDL : As a Broker
Joining NSDL as a Broker
Members of the stock exchanges are an important link between investors and the clearing house in the depository system. Securities bought or sold are routed through the clearing member account for settlement in the depository system. Therefore, to settle trades in dematerialised securities, a stock exchange member must open a clearing account with any DP.
Therefore, to settle trades in dematerialised securities, a stock exchange member must open a clearing account with any DP.
Clearing member account : Member brokers of those stock exchanges which have established electronic connectivity with NSDL need to open a clearing member account, with a DP of his choice, to clear and settle trades in the demat form. This account is meant only to transfer shares to and receive shares from the clearing corporation/ house and hence, the member broker does not have any ownership (beneficiary) rights over the shares held in such an account.
- The clearing member account has three parts
- Pool Account : Shares are received from selling clients in the pool account. Transfer to buying clients is also done from the pool account.
- Delivery Account : Shares received from selling clients are moved from the pool account to the clearing corporation/ house through the delivery account.
- Receipt Account : Shares are received in the pool account from the clearing corporation/ house through the receipt account.
