Operational efficiency through elimination of redundancies has been a continuous focus of CDC’s efforts over the years in order to increase customer convenience and satisfaction.
Keeping with the same spirit, CDC recently introduced the revised Securities Deposit Form (SDF) for its clients. The statement with reference to the legal ownership of securities has been removed from the new SDF format. This revision has been made considering the fact that now only those physical shares can be deposited into the CDS which are registered in the name of the Sub-Account holder. In the light of this change, the said statement has become redundant and therefore been removed from the SDF with immediate effect.
However, in order for the market participants to get acquainted to this change and to facilitate a smooth transition to the new format, it has been decided to accept the old version in parallel with the new form till October 15, 2009. However, it should be noted that the old version of the form is acceptable only if the statement of legal ownership of securities is signed by the concerned Sub-Account Holder himself.
The revised SDF was sent to the Participants through Notice Management System (NMS) and has also been placed on CDC’s corporate website www.cdcpakistan.com for ready reference.