Securities Depository refers to where securities are deposited.
Securities deposit is a process through which rights over securities are transferred, altered, and nullified by book-entry (recording debit/credit in the member and participant account book) without the actual movement of physical certificates.
Benefits
When securities are traded between investors, Securities Depository Operator settles transaction by book-entry without physical securities transfer. Transactions of securities deposit are kept in a safe and convenient way without the risk of loss and theft of physical securities.
The members and their customers who have deposited their securities at CSX don’t have to withdraw securities in order to exercise their rights against issuing companies.
Securities Account opening
Persons eligible for opening a securities account at the operator of securities Depository shall be securities firms and listed companies. Persons who intend to open a securities account with CSX shall complete the application forms determined by operator of Securities Depository. All Securities account of members or investors shall be created in the ledger system of the CSX which stores also the details of all transactions done by members and their customers and the details of shareholder list.
Securities Deposit
In order to deposit securities at CSX, the following information shall be provided:
Type of securities
Number of issuance
Denomination
Identification numbers
Total issue amount
Issued date
Listing date
Other relevant information related to the securities ownership.
