Shares Account Management

If you intend to trade in shares that are listed on the Nairobi Stock Exchange, you need to open an account with the Central Depository and Settlement Corporation Limited (CDSC). CDSC facilitates holdings of shares in electronic accounts, opened by shareholders and manages the process of transferring shares traded at the Stock Exchange through a computer system called the Central Depository System.

 

TRANSACTIONS MANAGED BY A CENTRAL DEPOSITORY SYSTEM

  • Storage of securities (Shares)
  • Private Transfer: This takes two forms- Settlement of an estate and Gift transfer (Subject to approval by NSE,CMA and CDSC)
  • Immobilization: Dematerialization of shares held in certificate form to electronic form
  • Security Disposal
  • Pledging of Shares
  • Pledge Release

 

The following are the requirements needed to open a new CDSC account:

 

Individual & Joint Account Requirements:

  • 2 recent passport-size photos
  • 1 copy of National ID or Passport
  • 1 copy of KRA Pin certificate
  • Completed and signed account opening (CDS1) and Client Mandate Form.

 

Corporate or Group Account Requirements:

  • 2 recent passport-size photos for each signatory
  • 1 copy of National ID or Passport for each signatory
  • 1 copy of KRA Pin Certificate for each signatory
  • 1 copy of Certificate of Incorporation/registration certificate
  • 1 copy of KRA Pin Certificate for the company
  • Board’s resolution to open account with Sterling Capital
  • Articles & Memorandum of Association
  • Completed and signed account form(CDS1) and Client Indemnity Form opening
  • A company seal or stamp to be appended on the (CDS1) and Client Indemnity Form
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    Nairobi, Kenya.

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