Beginner's Question

#1
My broker has given me cheque book like slip book for DMAT. What is this for?

If I order the broker online/phone to sell equities hold by me will the shares be automatically transferred to the buyers?:confused:
 
#2
The booklet is a DIS delivery instruction slip, u can transfer from your account to another by using this slip!

u do a trade online or by phone, the trade is done but the shares are credited in your account after t+2 i.e 2 days after trade, some times it may take t+3.

Once u sell ur shares, the money is again credited by t+2 or 3 sometimes, its then a floting stock, a buyer can buy the same from the exchange via a nother broker! that is called a secondary market.

Since you have started trading with less knowledge, i would suggest you get in touch with Reliance Money via facebook or u can get their details over the net, they are orgainizing seminars all over the country for beggeners like us, I had no knowledge too! but I am trading now and i can answer these questions coz i have attended one of their seminars! u should give it a try!

apart i have any problems or questions i directly get in touch with them, their response is real quick!:thumb:
 

rvm123

Active Member
#3
if u place order thro' broker for buying, if you tell him your demat account number, it will be credited to your account. If u want to keep in broker's account, for a short time, he can keep in his account.

after crediting to your account, if you want to sell, you can sell and give this Delivery instruction slip to transfer the shares to the buyer. Alternatively, you can sign a power of attorney with broker and for every transaction, u need not give the slip. He will automatically debit your account and transfer the scrip to the ultimate buyer. So, if your transactions are too many, u can opt for the second. Normally, if u open a three-in-one account with any of the institutions, they will go for second option only.
 

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