CDC Takes One Step Further to Boost Capital Market Investments!
Securities Brokers don't need to pay for CDS connection fees or minimum fees either. Exciting, right?
Incredible news for investors! The Central Depository Company of Pakistan Limited (CDC) has declared that sub-account holders will no longer have to worry about annual maintenance fees, as they have been completely waived off. And that’s not all – Securities Brokers don’t need to pay for CDS connection fees or minimum fees either. Exciting, right?
But that’s not everything. The Intra account movement transaction now comes with a small charge to ensure fairness for all. This reflects CDC’s determination to increase accessibility and decrease costs for everyone involved in the capital market.
Mark your calendars, because these revised tariffs will be effective from July 1, 2024. This move is in line with the Securities and Exchange Commission of Pakistan’s (SECP) goal to support investors and help businesses thrive. CDC has a track record of reducing transaction and custody fees by a whopping 95% since its inception.
Farrukh H. Sabzwari, Chairman of CDC, and CEO Badiuddin Akber are thrilled to pass on these great benefits to the investors, thanks to the visionary guidance of the CDC Board. They also express gratitude towards SECP Chairman Akif Saeed and Commissioner Abdul Rehman Warraich (SMD) for their continuous support and encouragement towards implementing reforms that make doing business a breeze.
For over two decades, CDC has stayed committed to delivering efficient and cost-effective services to its diverse clientele, including market participants and general investors. In the past five years alone, CDC has been a pioneer in digitalization, launching groundbreaking initiatives such as CDS Access, eIPO, eVoting, and many more at little to no cost for investors.
CDC’s innovative and efficient financial solutions have made it an essential pillar in the capital market infrastructure. From the implementation of the Professional Clearing Member regime to introducing numerous digital solutions, CDC continues to drive innovation and promote efficiency in the financial sector.
