Central Depository Service
How can one obtain the services of CDSC?
People wanting to obtain this services firstly need to open a de-mat account in CDSC. To do so, people need to go to the authorized Depository Participant (DP) then, they are required to fill a form. After that, the DP as per their system requirement, the data are entered in the CDSC system and the account is created. The person obtaining this account is known as Beneficial Owner (BO).
FIGURE 1: DEMAT ACCOUNT OPENING PROCESS
After all the processes are complete, the concerned person will receive a BOID number which stands for Beneficial Owner Identification number. BOID number is like a bank account number which is required to obtain the services of CDSC in a future date. This is a unique 16 digit number; it is the combination of Depository Participant Identification Number and Client ID.
For example: 13015630000000051
Remember, CDSC doesn’t directly open the de-mat account; the people are required to go through the channel of DP to obtain services of CDSC. As per the services obtain, the DP will charge some amount as a transaction fee which is mentioned in the Depository Participant (DP) Heading.
Similarly like BOID number, there is another number that the people need to be aware of i.e. ISIN which stands for International Securities Identification Number. This is a unique 12 digit number assigned to the shares, preference share, debentures and bonds etc. of the companies. For each listed company under CDSC, the ISIN number will be different.
For example: NP E 002 A 01018
The first two alphabets are the country code and three digits after word ‘E’ is issuer code. It is to be noted that, for dematerialization of the securities, the ISIN of concerned company is a must and one should know the number. In case of not knowing the ISIN number, one can obtain it from the website of CDSC.
Now after opening the de-mat account, one will be eligible to obtain centralized depository, clearing and settlement services from CDSC.
