Do I need to open a CDS account to trade online?

If you do not have an existing CDS account with OSK Investment Bank Berhad, you must open a CDS account to trade online.  Basically, you have two options.  You may either choose to open a CDS account under your own name or open a CDS account under OSK Nominees (a wholly owned subsidiary of OSK Investment Bank Berhad) favouring your name as the beneficial owner.  Should you choose the later, OSK Nominees will provide you nominee services which include application of rights issue, dividends and etc... at a nomimal fee.  Take note however that a CDS account under a Nominee Company name cannot be used for IPO application.  A charge of RM10.00 is levied by Bursa Malaysia Depository (BMD) for the opening of a CDS account in any case.

Do I need to open a CDS account to trade online?

Yes, we will open a CDS account for you under CIMSEC Nominees favouring your name as the beneficial owner. CIMB Investment Bank Berhad will provide custodian & nominee services that includes application of rights issue, dividends etc at a nominal fee.

Note: A CDS account opened under a Nominee Company name cannot be used for IPO applications. A charge of RM10.00 is levied by MCD for the opening of the CDS account.

Difference between Direct and Nominee CDS account

Guys there is a summary of the difference between Nominee and Direct CDS account on the link.

Courtesy: Iklatmy

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