Loading...

What is a clearing member account and how is it different from a beneficiary account?

asked

Open an Instant Account with Zerodha

A registered member of any of the stock exchanges that have direct connectivity with the depositories holds a clearing member account or pool account. A Pool account is used by the members to hold securities received from clients and deliver them to clearing corporations. This account is also used to receive securities from the Clearing Corporations and distribute onwards to clients.

answered

Comments

Add a public comment...

List of all questions Ask your question

More Demat Account Questions...

  1. Is it mandatory to have a demat account to apply in an IPO?
  2. How do I transfer from one demat account to another demat account?
  3. I do not have a demat account. Can I apply in an IPO?
  4. How much interest do I get on demat account?
  5. What are the maintenance changes for a demat account? Are there any hidden charges or processing fees on the transactions I do on demat account?
  6. Do I have to pay yearly maintenance changes even I do not hold any shares in my demat account?
  7. Can a person have more than one demat account on his name?
  8. Can a Demat account opened for a minor?
  9. What is the diffrence between Demat account number and Trading account number ?
  10. What is CDSL and NSDL ?
  11. Can a minor open trading Demat account?
  12. What is a depository?
  13. Who is Depository Participant (DP)?
  14. What is dematerialisation Process?
  15. Why should I hold shares in demat account and is it compulsory for every investor to open a demat account to trade in the stock market?
  16. How many demat accounts I can open?
  17. Is there nomination facility in demat account ?
  18. Do I have to contact all companies for any update in my personal details ?
  19. I am not a frequent trader on stock exchange. What should I do with transaction statement ?
  20. What kind of help can I get If I have problem with my NSDL demat account?
  21. Can I take a loan on my demat holdings?
  22. How much do I pay for my demat account?
  23. What are the value added facilities on my demat account ?
  24. What precautions should i take to prevent misuse of securities lying in my account ?
  25. Can I open more than one demat account with only one DP in identical names?
  26. Can a demat account be opened with four holder's names?
  27. What is the Standing Instruction given in the demat account opening form?
  28. Can someone else operate my demat account on my behalf on the basis of Power of Attorney?
  29. What is a clearing member account and how is it different from a beneficiary account?
  30. How many Demat Account can be added to my Trading Account?
  31. How many Demat Accounts do I need?
  32. Is there any nomination facility in Demat Account?
  33. Do I need to contact all companies for any update in my personal details?
  34. What precautions should I take to prevent misuse of securities lying in my demat account?
  35. I am not a frequent trader on stock exchange. What should I do with Transaction Statement?
  36. How much do I need to pay for my Demat Account?
  37. What kind of help can I get if I have any problem with my NSDL Demat Account?
  38. What are the value added facilities on my demat account?
  39. How long can I hold the shares of a company? What are the changes applied in holding shares for the long term?
  40. How do I safeguard my Demat Account with Power of Attorney to Broker?
  41. Are there different types of Power of Attorney?
  42. What is the validity of my Power of Attorney for demat account?
  43. Are there any charges associated with Demat Power of Attorney?
  44. Does broker allows time bound Power of Attorney for Demat Account?
  45. Should Power of Attorney be printed on the Stamp Paper?
  46. Can I sign Power of Attorney online?
  47. Can a Broker misuse the Power of Attorney?
  48. Can a Broker withdraw money from my linked bank account using the Power of Attorney I gave?
  49. Can I use Broker Pool Demat Account to keep my share and do not give Power of Attorney?
  50. Can I trade in Futures and Options without Power of Attorney to my Demat account?
  51. My signed Power of Attorney is still in courier. Can I still trade?
  52. How can I get dividends directly to the bank instead of the cheque? Is there any online application?
  53. Can I add another person to my demat account?
  54. Why do I need a demat account?
  55. Is demat account required for SIP?
  56. What is the differences between NSDL and CDSL?
  57. Does any stock broker offer CDSL Easiest facility?
  58. Can I transfer shares from CDSL demat account to NSDL demat account?
  59. What happens if I do not pay AMC for a demat account?
  60. Can I open Demat Account without PAN Card?

List of all questions Ask your question

special_offers
By Popular Stock Brokers
Zerodha Review   Zerodha

Free Eq Delivery & MF
Flat ₹20 Per Trade in F&O

Open Instant Account

Angel Broking Review   Angel One

Free Equity Delivery
Flat ₹20 Per Trade in F&O

Know more...

Kotak Securities Review  Kotak Securities
    (Trade Free Plan)

FREE Account Opening (₹0)
FREE Intraday Trading (Eq, F&O)

GET FREE Demat Account

Upstox Review   Upstox

FREE Account Opening
Flat ₹20 Per Trade

Enquire Now

ICICI Direct Review  ICICI Direct

Free Equity Futures Trading
₹20/Trade (Options & Intraday)

Open 3-in-1 Account

ProStocks Review  ProStocks

Unlimited @ ₹899/month
Rs 0 Demat AMC

Open FREE Account

Nuvama Broking Review   Nuvama

Full-service @ Flat Rate
Flat ₹10 Per Trade

Get FREE Account

Fyers Review   Fyers

Free Eq Delivery Trades
Flat ₹20 Per Trade in F&O

Open Instant Account

Paytm Money Review  Paytm Money

Flat ₹15 Per Trade

Open Instant Account Now!

Sharekhan Review  Sharekhan

30 days brokerage free trading
Free - Relationship Manager
Free - Classroom Training

Open Account in 15 Minutes

Open an Instant Account with Zerodha