Karachi, June 25, 2024 – The Central Depository Company of Pakistan Limited (CDC) has announced significant tariff reductions aimed at supporting capital market investors. Effective July 1, 2024, the CDC will eliminate the Annual Maintenance Fee for Sub-Account Holders and fully waive the CDS connection fee and minimum fees for Securities Brokers. Additionally, to ensure fairness, an Intra account movement transaction fee will be introduced.
These revised tariffs are part of CDC’s ongoing commitment to enhancing market accessibility and reducing costs for all capital market stakeholders. Since its inception, CDC has reduced its transaction and custody fees by nearly 95%, aligning with the Securities and Exchange Commission of Pakistan’s (SECP) vision for investor facilitation and lowering business costs.
Commenting on the tariff reductions, CDC Chairman Farrukh H. Sabzwari and CEO Badiuddin Akber emphasized the company’s dedication to passing benefits on to investors under the strategic guidance of the CDC Board. “CDC has consistently reduced tariffs to facilitate investors and market participants, including Securities Brokers,” they said. They also expressed gratitude to SECP, particularly Chairman Akif Saeed and Commissioner (SMD) Abdul Rehman Warraich, for their support and encouragement in these initiatives.
Since its founding in 1997, CDC has prioritized delivering efficient, cost-effective services to its diverse clientele, including market participants and general investors. Over the past five years, CDC has led a digitization drive, launching numerous initiatives at minimal or no cost to investors. These include the implementation of the Professional Clearing Member regime through EClear Services and the introduction of digital solutions like CDS Access, Dividend Repository, eIPO, eLOR, eVoting, e-Meeting, Zakat Repository, Emlaak Financials for mutual fund investments, and the Centralized Gateway Portal.
CDC’s efforts have significantly streamlined payments and business processes, reinforcing its role as a critical pillar of the capital market infrastructure. By driving innovation and efficiency, CDC continues to enhance the financial sector with its pioneering financial solutions.
This latest move to reduce tariffs underscores CDC’s dedication to supporting market participants and investors, ensuring a more accessible and cost-effective trading environment in Pakistan’s capital markets.