Advantages Of Cscs Numbers And Trade Alert!

ADVANTAGES OF CSCS NUMBERS
1. ESSENTIAL FOR SUBSCRIPTION TO TRADE ALERT
2. NECESSARY FOR ONLINE ACCESS TO YOUR STOCK POSITION
3. VITAL FOR INTER HOUSE STOCK TRANSFER
4. NECESSARY FOR THE PROCESSING OF E-DIVIDEND, E-BONUS AND E-IPO
5. ENTITLES INVESTORS TO QUARTERLY OFFICIAL CSCS STATEMENT WHICH IS A LEGAL TENDER
6. ALLOWS ONE TO GET REPRODUCIBLE COPIES OF CSCS STATEMENT OF ACCOUNTS AS AT ANY DAY FROM STOCKBROKER EITHER ONLINE OR IN HARD COPY.
7. ENTITLES ONE TO MONTHLY CSCS STATMENT OF ACCOUNTS FROM STOCKBROKER (ALSO A LEGAL TENDER)
8. CONNECTS INVESTORS ACCOUNT TO CSCS AUTOMATED TRADING SYSTEM (ATS) THROUGH STOCKBROKER
9. MANDATORY FOR BOTH DEMOBILIZATION AND DEMATERIALIZATION (CONVERTING CERTIFICATES TO MORE LIQUID CSCS STATEMENTS)
10. ENABLES INVESTOR TO MAKE FASTER INVESTMENT DECSIONS AT POINT OF SALE/PURCAHSE OF STOCK
11. SAVES TRANSACTION TIME FOR PROSPECTIVE INVESTORS
12. CSCS ACCOUNT OPENING IS FREE FOR NOW IN SOME HOUSES
13. ESSENTIAL FOR CROSS DEALING
14. CSCS ACCOUNT HOLDINGS ARE HIGHLY REPRODUCIBLE REMOVES MISPLACEMENT/LOSS RISKS ASSOCIATED WITH CERTIFCATES
15. CSCS ACCOUNT HOLDINGS/STOCKS THERE IN LISTED COULD BE USED AS COLLATERAL FOR SHORT TERM LOANS IN MOST BANKS, STOCKBROKING FIRMS AND FINANCE HOUSES.
16. CSCS ACCOUNT HOLDINGS/STOCKS THERE IN LISTED COULD BE AS EXPRSSION OF FINANCIAL NETWORTHIN EMBASSIES AND FOR FOREIGN UNIVERSITIES.




TRADE ALERT
What is Trade Alert?
The NSE/CSCS introduced an investor Protection scheme known as the Trade Alert which involves the installation of a software to rear-end of the mainframe of the computer system of the CSCS, such that whenever there is a transaction on the account of a subscriber at the CSCS, an SMS massage is triggered into the GSM handset of the investor, detailing sales or purchases made and specifying volume and price.
In the event that the investor did not authorize the transaction, he can summarily abort the process by placing a call to CSCS/NSE.

What is this about?
Through your GSM phone, you will receive an SMS on your mobile phone once shares are traded on your stock account(s). You will abort the transaction if you did not authorize it by phoning the CSCS call center.
This protects all subscribers of the product against unauthorized stock activities on their stock account in CSCS database. Subscribers are regularly updated of all capital market related activities.

Benefit OF Trade Alert
Stops unauthorized trades before they are concluded.
Knowledge of in and out bound transactions on your account.
Reduces chances of fraud on your account.
Effective control of transactions.
Improves confidence

What are the values added?
Management of your stock portfolios in CSCS database becomes automated and seamlessly controlled.
The burden of managing your account is taken off you.
All stock transaction activities on your are relayed to you unsolicited.
Invariably, no more fraudulent activities on all subscribers' stock account in CSCS database.
Closure of registrar date, bonus, right issues and dividends declamation are relayed to all subscribers.

E-BONUS
E-Bonus is an electronically captured bonus shares into CSCS system that contains the normal specific bonus allocation for a given investor in place of a share certificate.
In the new procedure of e-Bonus, Bonuses are electronically captured into CSCS System thereby removing the unnecessary processing bottlenecks that are currently expressed in share certificate deposit processes. With the new method, Registrars advise CSCS Ltd in an electronic form. The data uploaded automatically into CSCS System and based on clients instruction, the Bonus shares are detached to the stockbroking firm of the investor’s choice.


Benefits
With e-Bonus, client’s stock accounts are automatically and electronically credited with their bonus shares in CSCS system.
Shareholders can easily update and know their shareholding at a glance.
Based on client’s request Bonus shares are electronically detached and placed under the stockbroking firm of the client’s choice.
Shareholders can easily have access to their bonus shares immediately after bonus approval for disposal or update.
Transactions on Bonuses are made more dynamic.
Unnecessary time, waiting for certificates to be posted to shareholders is removed.
The risks of loss of bonus shares certificates in transit are eliminated.
Incidence of stolen certificate is eliminated.
The clumsiness of gathering bonus share certificates over  the years for stock account reconciliation becomes a thing of the past.


It internationalizes Bonus issue thereby placing Nigerian capital market same pedestal with international communities.
Paper work is reduced.
Cost of printing bonus certificates is eliminated.

ONLINE ACCESS TO STOCK POSITION
See  http://www.nairaland.com/nigeria?topic=58129.msg1179284#msg1179284

INTER HOUSE STOCK TRANSFER
This happens when you want to move your stockholding from one stockbroking firm to the other either due to need for better service quality or other needs.

DO YOU NEED A CSCS NUMBER?

If you require a stock dealing account with CSCS number (hassle free), fill the attached form in black ink, scan and revert to ogunyemi@gmail.com with scanned copy of ID card/data page of international passport.

For further enquiry you could call 08056259633

@ Madeonline:

Thanks for the info.

Maybe you can throw some light on the following: I heard about the CSCS number here on Nairaland. Although I've been purchasing shares since 2004, my broker never mentioned anything about CSCS number.

A few months ago, I asked him about my CSCS number and he sent me two numbers. One is alpha numeric and the other numeric.

Which of the two is my CSCS number?

Which of the two numbers should I enter on IPO forms?

How does the CSCS number actually work on the CSCS site? (I tried unsuccessfully to register on the CSCS site with the alpha numeric number)

If I decide to open an account with a new broker without transferring from the previous one (this means, if I have accounts with 2 brokers) do I get two distinct CSCS numbers or do I always maintain the same CSCS number?

I know I should be asking my broker these questions, but it takes him ages to respond to my emails and I'm getting cheesed off with his attitude.

Thanks.

@ madeonline

Just wondering. I wrote you severally about my cscs number but never heard from you after I sent a copy of my drivers licence to you, not even an acknowledgement of receipt.

well done madeonline keep it up.

Hi Madeonline,

You are doing a great job, keep it up.  

I just started trading in shares and i need to seek some clarifications.

Is it possible for my CSCS account to be in debit.?,

I placed an order through my brokers to buy NEM insurance stock for me when it was N1.90.  They delayed in buying it  immediately, and eventually the price rose to N2.35 However, i had called asked them to cancell the order because i was not interested anymore, they still went ahead and bought it @ N2.35.

I called and complained, they said not to worry, that they would reverse the transaction. Now, i got a trade-alert yesterday telling me that the shares had been sold @N2.07. What does this mean?, would it have an impact on my CSCS account considering a loss of 0.28 has been made on each unit sold. Will it place my CSCS account in a debit position?

Please, i need an explanation. Thanks.

Dear Zukki your account would be in debit with your broker.

If you did not tell him to sell at a loss and he id you can insist that he takes care of the debit balance.

Thx