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Home  > Products > Broking > Depository

Overview

Depository Participants (DP) offers a safe & convenient way to hold securities in electronic form as compared to paper form. It offers freedom from delays, forgeries, settlement risk and paper work. SMC provides an integrated single platform for our clients ensuring a quick, risk free and efficient process. We are participants of Central Depository Services Limited (CDSL), National Securities Depository Limited (NSDL) and Comtrack. SMC, as a Depository Participant, offers depository accounts to individual investors as well as to corporate houses, which enables them to trade in the dematerialized environment. We are one of the few Depository Participants offering depository facilities for commodities also and we are empanelled with all the commodity exchanges viz. NCDEX, MCX, ACE, UCX, ICEX & NCDEX comtrack.

Our Offerings

  • De-materialization of physical shares and mutual fund units into electronic form
  • Re-materialization to convert the dematerialized shares and mutual fund units into physical form
  • Inter and intra depository transfer of securities from one demat account to another
  • Pledging of shares and commodities to avail loans
  • Commodity demat account
  • Online access to demat account
  • Get personalized support from our depository team

Our Edge

  • Prompt and efficient service
  • Competitive transaction charges
  • Separate desk for HNI and NRI clients
  • Professional service to trading members for their pool accounts
  • Hassle free automated pay-in facility to clients
  • Faster transfer and registration of securities leading to increased liquidity of securities
  • Nationwide branch network
  • Personalized / attentive services by trained help desk
  • All in one combined Monthly Bill-cum-Transaction-cum- Holding statement

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About SMC

Established in 1990, SMC is one of the leading and well-diversified financial services companies in India offering services across brokerage (across the asset classes of equities (cash and derivatives), commodities and currency), investment banking, wealth management, distribution of third party financial products, research, financing, depository services, insurance broking and clearing services and real estate advisory services to corporate, institutional, high net worth individuals and other retail clients.

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serving over
18 Lac
unique clients
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Workforce of
3000+
employees
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Presence in 500+ cities in India & abroad
large network of
2,500+ sub-brokers & authorised persons
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Cumulative AUM under Mutual Funds 3,000+ crores
*As on 31st March 2018

FAQs

What is a Depository?
A depository is an organization where the securities of an investor are held in electronic form. A depository can be compared to a bank. To avail of the services of a depository, an investor has to open an account with the Depository through a depository participant, just as he opens an account with the bank. Holding shares in the account is akin to holding money in the bank.
What is dematerialisation (demat)?
Dematerialisation is the process by which physical certificates of an investor are converted to an equivalent number of securities in electronic form.
How many Depositories are registered with SEBI?
At present two Depositories viz. National Securities Depository Limited (NSDL) and Central Depository Services (I) Limited (CDSL) are registered with SEBI.
Who is a Depository Participant?
A Depository Participant (DP) is an agent of the depository through which it interfaces with the investor. A DP can offer depository services only after it gets proper registration from SEBI. Banking services can be availed through a branch whereas depository services can be availed through a DP.
Who is a Beneficial Owner (BO)?
All the benefits of the dematerialized shares are given to the actual investor since the depository holds the securities in a fiduciary capacity on behalf of the investors who have opened a demat account with the depository. Hence, the actual investor is the “Beneficial Owner” (BO) of the securities.
How an investor can avail the services of a Depository?
A depository interfaces with the investors through its agents called DPs. If an investor wants to avail the services offered by the depository, the investor has to open an BO account with a DP.
What are the benefits of availing depository services?
• A safe and convenient way to hold securities; • Immediate transfer of securities; • No stamp duty on transfer of securities; • Elimination of risks associated with physical certificates such as bad delivery, fake securities, delays, thefts etc. • Reduction in paperwork involved in transfer of securities; • Reduction in transaction cost; • No odd lot problem, even one share can be traded; • Nomination facility; • Change in address recorded with DP gets registered with all companies in which investor holds securities electronically eliminating the need to correspond with each of them separately; • Transmission of securities is done by DP eliminating correspondence with companies; • Automatic credit into demat account of shares, arising out of bonus/split/consolidation/merger etc; • Holding investments in equity and debt instruments in a single account.
Whether it is compulsory for me to dematerialise my physical certificates?
Depository does not levy any charge for dematerialization of securities. However, DPs may collect dematerialization charges towards postage / courier charges etc. as per their tariff sheet.
Can odd lot shares and partly paid shares be dematerialized
Yes, odd lot share certificates can also be dematerialised.
How are right and bonus shares allotted?
An allotment advice will be sent by the issuer/ their Registrar & Transfer (R & T) agent for bonus/ rights entitlement. The transaction statement sent by the DP, will show the bonus/ rights credit into the account. The quantity shown in the advice and the transaction statement should match.
What is ISIN?
“ISIN” is a unique 12 digit alphanumeric code given to a security, shares, debentures, bonds etc. when the security is admitted in the depository system. First two digits of the ISIN code indicate country of registration. For all securities registered in depository in India, first two digits of the ISIN code are ‘IN’.
What is a demat account?
A demat (dematerialised) account in simple words, is an account where your shares are stored in electronic form. Your trading account is the link between your savings and demat account. When you intend to buy shares, money is debited from your savings account and shares bought using your trading account and stored in your demat account. When you sell, shares are taken from your demat account, sold using your demat account and money credited to your savings account.
What is the procedure of Dematerialisation?
A demat (dematerialised) account in simple words, is an account where your shares are stored in electronic form. Your trading account is the link between your savings and demat account. When you intend to buy shares, money is debited from your savings account and shares bought using your trading account and stored in your demat account. When you sell, shares are taken from your demat account, sold using your demat account and money credited to your savings account.
What happens in case a Non-Resident Indian becomes a resident in India?
Both resident Indians as well as NRI's can nominate an NRI, subject to exchange control regulations in force from time to time. Similarly, an NRI can nominate a resident Indian or another NRI.

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