Account opening::Orange Bullion

Retail investors who intend to trade/ invest in E-Series products (i.e E-Gold , E-Silver, E-Copper etc.) are required to register with one of the members of NSEL. The process is exactly similar to client registration process for trading in the equity market. Investors may choose any NSEL member on criteria like convenience, comfort, service levels, safety, reputation and charges levied etc.

For the list of NSEL members having demat pool account .

Procedure for registering to initiate trading in E-Series:

Procedure for opening of Clearing Member (CM) Account:

Each Clearing Member of the Exchange connected to depository is required to open one clearing account CM-Pool A/C with a NSEL-empanelled Depository Participant (DP) of his choice. The Exchange provides the list to its clearing members on a regular basis . If a clearing member is a member of more than one stock exchange, then one clearing account per stock exchange must be opened. Procedure for opening a clearing account for the first time is as follows:

The CM should fill up the Account Opening Form as per the format given in Annexure K of the Business Rules of NSDL and available with the DP.
The DP-Client agreement duly executed on a stamp paper of appropriate value. Further, the Participant shall be responsible in deciding the value of the stamp paper.
The schedule of fees to be charged by the Participant to the CM should form a part of the agreement. Therefore tariff must be signed by the member.
A copy of the letter from the Clearing Corporation/Stock Exchange intimating allotment of the CC-CM-ID to the CM signed by its authorized official.
Board Resolution for authorized signatories.
Memorandum of Association and the Articles of Association (in case of Corporate) with duly attested.
Certificate of incorporation duly certified by auth signatories.
Specimen copy of the cheque for capturing the 9-digit MICR code.
Proof of Address( registered/correspondence/foreign address if any )in the name of company self attested by company auth signatories,
PAN Card in the name of company self attested by company auth signatories.
Self attested pan card copy & proof of address of authorized signatories.
Specimen cheque copy or cancelled cheque for MICR updation.
List of authorized signatories with photographs pasted, signature across photo, specimen signature and company rubber stamp affixed on the same.
Introduction of Existing demat a/c holder Or Bank Introduction as per the specific format.
Additional financial details form duly filled and signed along with latest audited balance sheet.

Participant should verify the completeness of the account opening form and verify the copies submitted with the original documents. If the documents are in order, the Participant should accept them and give an acknowledgement duly signed and stamped to the CM. The Participant should forward the following documents to NSDL for allotment of CM BP ID .

Copy of Account opening form,
Copy of the letter from the Clearing Corporation/Stock Exchange intimating allotment of the CC-CM-ID signed by its authorized official.

NSDL will allot the CM-BP-ID and intimate to the Participant electronically. The Participant captures the signature(s) of the authorized signatories and other details as per the Account Opening Form in the DPM System.The Account number is generated from the DPM System which is informed to the Member through Client Master Report (CMR ). The DP also issue various delivery instruction forms such as DO (Delivery Out ) Annexure : S and Inter settlement (Annexure: SS) and Pay out (Annexure : T) to the Member.

Procedure for opening of Beneficiary Accounts :

A beneficiary account is a Demat account opened in the name of an Individual (single or jointly). Such an account could also be in the name of a Corporate, HUF, a society, a trust. Parternership firms and Proprietorship firms. The Account opening procedure varies depending upon the nature of the account. This account is to be used by the account holder for holding and transacting in demat commodity units in electronic form.

The procedure and requirement of a beneficiary Accounts:

A : Individual account Holder.

Completely filled A/C Opening Form
DP – Client Agreement
Signed DP Rate Sheet
Proof Of Address (POA)in the name of all Account Holders ( If permanent address is different from correspondence then both proofs are required.)
PAN Card (POI) of all Account holders.
Photograph & Signature across Photo required for all Holders.
MICR Cheque copy (in case of non MICR cheque copy banks letter is reqd) as per the bank details of the first holder.

B: Opening of Corporate Accounts

A/C Opening Form
DP Agreement
DP Rate Sheet
Proof Of Address in the name of company self attested by company auth signatories.
PAN Card in the name of company self attested by company auth signatories.
List of authorized signatories with photographs pasted, signature across photo, specimen signature and designation.
Authorized signatories photograph & Signature across Photo required.
MICR Cheque copy (in case of non MICR cheque copy banks letter is reqd)
Board Resolution as per the prescribed format.
Certificate of Incorporation
Memorandum Of Association & Articles Of Association
Introduction of Existing demat a/c holder Or Bank Introduction
Additional financial details form duly filled and signed along with latest audited balance sheet.

Proof of Identity (POI):
1. Passport I
2. Voter ID Card
3. Driving license
4. PAN card with photograph
5. Identity card/document with applicant’s Photo issued by
  1. Central/State Government and its Departments,
  2. Statutory/Regulatory Authorities,
  3. Public Sector Undertakings,
  4. Scheduled Commercial Banks,
  5. Public Financial Institutions,
  6. Colleges affiliated to Universities (this can be treated as valid only till the time the applicant is a student),
  7. Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members and h) Credit cards/Debit cards issued by Banks.
Proof of Address
1. Ration card
2. Passport
3. Voter ID Card
4. Driving license
5. Bank passbook / Bank Statement (NSDL/POLICY/2007/0074 dated December 1, 2007 and NSDL/POLICY/2008/0037 dated May 27, 2008)
6. Verified copies of
  1. Electricity bills (not more than two months old),
  2. elephone bills (not more than two months old)
  3. Leave and License agreement / Agreement for sale
7. Self-declaration by High Court & Supreme Court judges, giving the new address in respect of their own accounts.
8. Identity card/document with address, issued by
  1. Central/State Government and its Departments,
  2. statutory/Regulatory Authorities,
  3. Public Sector Undertakings,
  4. Scheduled Commercial Banks,
  5. Public Financial Institutions,
  6. Colleges affiliated to Universities (this can be treated as valid only till the time the applicant is a student) and
  7. Professional Bodies such as ICAI, ICWAI, Bar Council

In case of joint holdings, POI and Proof of address documents must be collected in respect of all the account holders and the originals must be shown to the DP officials for verifications.

e-Series

Orange Bullion Updates