Clearing and Settlement of Dhaka Stock Exchange (DSE)
Clearing Accounts is concerned with the monitoring and verification of clearing accounts related activities. The main function of clearing accounts is:
- Margin Settlement
- Data collection and processing and preparation of statements.
- Collection and disbursement of payments.
- Demated spot trade settlement.
- EX DP
- Preparation of Accounts.
Settlement of Member’s Margin:
- Collection of security deposit as margin within trade.
- Disbursement of security after maturity.
- Maintenance of margin account such as demoted shares, FDR, Bank Guarantee.
- Preparation of charges against margin.
Data collection and processing and preparation of statements
- Collection & processing of trade related data and for preparation of necessary statements.
- Calculation of Laga charge, Hawla charge and Tax at source.
- Preparation of Receivable and Payable Statements after all adjustments.
- Preparation of Accounting Statements.
Collection and disbursement of payments:
- Collection of payment from selling broker as per Receivable Statement.
- Issuance of cheque to the buying members as per Payable Statement.
- Issuance of cheque to the members against security deposit after adjustment/maturity
- Reconciliation with accounts.
- Assurance of deposit of cheques.
- Assurance of payment order.
- Management of funds relating to clearing accounts.
- Maintenance of FDR Account.
- Preparation of daily clearance report and submission of report to IT.
- Submission of weekly and monthly clearance reports (Defaulter List to SEC.
- In case of Defaulters.
- Stop all payments.
- Preparation of Buying In/Selling Out order.
- Preparation of the accounts regarding Buying In /Selling out.
- Preparation of resumption order and provision of it for IT.
- Submission of report to SEC regarding the settlement of defaulter members.
Demated spot trade settlement.
- Assurance of deposit by the buying members to the bank.
- Assurance of share availability of the selling members their clearing accounts.
- Collection of data and preparation of Statement.
- Issuance of payment.
- Looking after all the reports provided by CDBL every day.
- Assurance of available demated shares buying in / Selling out by DSE.
- Collection of necessary documents.
Preparation of Accounts:
- Daily & monthly ledger.
- Daily and monthly clearing accounts.
- Daily and monthly clearing reconciliation.
- Maintenance Tax account daily and monthly.
- Transfer of fines, interest and other charges monthly.