CDC reduces tariff to support stock market Central Depository Company

CDC reduces tariff to support stock market

KARACHI: Central Depository Company of Pakistan Limited (CDC) has reduced tariff structure to facilitate public and to support the stock market.

As the infrastructure backbone of Pakistan Capital Market, CDC’s main objective is to provide efficient and cost effective services to all its customers and promote ease of doing business.

In line to this resolve, CDC has continued to pass on the benefits to market participants and general investors without compromising on its services.

As part of the recent reduction, CDC has provided 100 percent waiver on Maintenance fee for such Sub-Account holders who also have Investor Accounts.

Taking this initiative further in order to promote the growth of Pakistan’s corporate debt market, CDC has significantly reduced its annual fee for long-term redeemable securities by approximately 65 percent.

Additionally, CDC has rationalized its tariff structure for next five years which also includes reduction in custody fee for the year 2019-20 and 2020-21 by 14 percent and 16 percent respectively.

Commenting on this market supporting endeavor, Badiuddin Akber, CEO-CDC said: “This initiative was taken by CDC to give much needed relief and support to the market, especially the investing public. While CDC continues to reduce its tariff since its inception, we are targeting our efforts towards helping reduce the cost of doing business for market participants. This is our ongoing contribution towards the development of Pakistan Capital Market.”