CDC introduces Direct Settlement Services (DSS)
CDC’s role is not only limited to the development of Capital Market but also extends to keeping it stable. In order to achieve his much desired stability in the market, investors’ protection must be ensured through continuous automation, risk management and innovation. Keeping this in mind, CDC recently came up with another solution, which we believe, will enhance the Capital Market experience by providing paramount investor protection. ‘Direct Settlement Service (DSS)’ was launched in April 2015.
Traditionally, it was mandatory for investors to open a Sub Account with CDC which was opened under the Participant umbrella of a Broker. All the operations including settlement of investor trades (cash and securities) were handled by the Broker. While an alternate account with CDC i.e. IAS account was used for keeping the securities for custody purposes only.
After subscribing to DSS, CDC will take over the responsibility of settling investor trades (cash and securities) through IAS Account. Securities will be moved in and out of IAS account in case of buying/selling transactions. By introducing this web-based service, CDC has offered the most secure way to trade in the Stock Market with utmost level of control.
- Full control over assets
- Complete automation of settlement process that significantly reduces the risk of human error.
- Top of the line security mechanism
- Our Business Continuity Plan ensures minimal chances of suspension of business.
- Updates via SMS/e-Alerts
- No need to open Sub Account
How to subscribe to Direct Settlement Services (DSS)?
IAS Account is a pre-requisite for subscribing to DSS. IAS Account holders should submit duly filled DSS Subscription Form available on CDC’s website (www.cdcpakistan.com) and at CDC premises. For more information please contact CDC’s Customer Support Services at 0800 – 23275 (CDCPL).