InvestorQ : Does the process of DIS submission remain the same if I sell through a sub-broker?
Jignesh Gupta made post

Does the process of DIS submission remain the same if I sell through a sub-broker?

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sarah Leo answered.
3 years ago
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Yes, the process remains the same. Firstly, ensure that you are only selling through registered sub-broker. All sub-brokers are also required to be registered with SEBI and you can ask for their certificate to verify. Even if you sell securities through a sub-broker, you are required to transfer securities directly to the broker’s account. Hence you need to fill the Market Trade portion of the Delivery Instruction Slip to transfer securities directly to the account of the broker (i.e., the clearing member).

Nothing goes from your account into the sub-broker account. Your point of contact is still the broker only. In this case, also the settlement deadlines will remain the same (i.e. Wednesday morning for a Monday trade). Further, in respect of trades executed through sub-broker, you are required to transfer the securities directly to broker viz. clearing member account and not to the sub-brokers account. Hence, if you have sold securities through sub-broker, you need to make sure that the securities reach the account of clearing member of the stock exchange latest by Tuesday morning. The sub-broker, most likely, is not a clearing member and hence you cannot transfer to their clearing accounts.

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