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NISM Certifications · NISM-Series-VI: Depository Operations · Investor Services (NISM VI)

A BO wants his securities to be transferred to the account of his son, who has a demat account with the same DP, without any sale. Which instruction is typically used for this off-market transfer?

The BO should give a Delivery Instruction Slip (or its electronic equivalent) for an off-market transfer, naming the son's account and the reason. It moves the securities between demat accounts without a trade, unlike rematerialisation, pledge or closure requests.

  1. ADelivery Instruction Slip (DIS) for an off-market transferCorrect
  2. BRematerialisation request form
  3. CPledge creation form
  4. DAccount closure form

Explanation

Transfers between demat accounts outside the exchange are done by submitting a DIS (or electronic equivalent) specifying the target account and reason. Rematerialisation converts to paper, a pledge form creates a lien, and closure form ends the account.

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