The entities which are authorised to do pay-in and receive the pay-out from a Clearing Corporation (CC)/ Clearing House against trades done by them or their clients are known as clearing members (CM).
Clearing Member Account can be opened only after the depository approves it and allots clearing-member business partner identification number (CM-BP-ID). However, the concept of a separate CM-BP-ID is not followed by CDSL.
A broker member can have only one clearing account per stock exchange of which he is a member. The DP should obtain, with the account opening form, the necessary details from the clearing member along with a letter from the Clearing Corporation allotting a CC-CM-ID.
Detail of Bank account is required with MICR, IFSC details for ECS of Dividend / Interest.
Delivery Instruction Slip issued to Visually Challenged Clients should be pre-stamped as "Visually Challenged"
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