Kathmandu, October 8
As Nepse is implementing demat form of share trading of the banking group in the first phase today, investors having their stocks of banks on physical form can sell it on the same format, but the buyers will receive it only in the dematerialized form.
Once the CDSCL receives the DRF, it will submit the share certificate to the buyer clearing member within T+9 days after transferring the ownership and putting the seal of ‘Surrender for Dematerialization’.
The buyer clearing member will submit the share certificate to the respective registrar while the depository participant (DP) should collect the DRF from the CDSCL within T+10 days.
DP will have to do the entry of the information as mentioned in the DRF in the CDS. Upon the entry of the information, the DP will receive the Demat Request Number (DRN). The DP will have to submit the DRF including the DRN to the respective registrar.
The RTA will approve the certificate after verifying the DRN through the CDS on the same day or another day of receiving the share certificate and DRN on the DRF from the DP. As soon as the RTA approves, the share will be credited in the demat account of the buyers.
While the CDS is coming into implementation for the trading of banking scrips from today, the full fledged implementation will begin from Kartik 6.
Nepse had already conducted the mock trading and settlement of demat share on September 26. 2000 transaction of three listed companies were successfully conducted on the mock trading day.
As Nepse is implementing demat form of share trading of the banking group in the first phase today, investors having their stocks of banks on physical form can sell it on the same format, but the buyers will receive it only in the dematerialized form.
According to the procedures on dematerialization of physical shares 2071 unveiled by the Nepse, the buyer clearing member should acquire the physical certificate of the shares within T+5 days after completing the settlement process within T+3 days.
The clearing member should submit the demat request form (DRF) to the CDS and
Clearing Ltd (CDSCL) within T+7 days. The clearing member should submit the demat request form (DRF) to the CDS and
Once the CDSCL receives the DRF, it will submit the share certificate to the buyer clearing member within T+9 days after transferring the ownership and putting the seal of ‘Surrender for Dematerialization’.
The buyer clearing member will submit the share certificate to the respective registrar while the depository participant (DP) should collect the DRF from the CDSCL within T+10 days.
DP will have to do the entry of the information as mentioned in the DRF in the CDS. Upon the entry of the information, the DP will receive the Demat Request Number (DRN). The DP will have to submit the DRF including the DRN to the respective registrar.
The RTA will approve the certificate after verifying the DRN through the CDS on the same day or another day of receiving the share certificate and DRN on the DRF from the DP. As soon as the RTA approves, the share will be credited in the demat account of the buyers.
While the CDS is coming into implementation for the trading of banking scrips from today, the full fledged implementation will begin from Kartik 6.
Nepse had already conducted the mock trading and settlement of demat share on September 26. 2000 transaction of three listed companies were successfully conducted on the mock trading day.
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