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Why only one CDSC account?
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obiero
#21 Posted : Sunday, August 17, 2014 4:34:14 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,476
Location: nairobi
mwekez@ji wrote:
Obiero, SMH

@mweke hehe.. meant more than one bank, not one account! though I know the wife sometimes contributes to the confusion :)
@mainat pole kukutoa nguo. js havin fun
COOP 306,100 ABP 31.96, KEGN 112,100 ABP 10.64, MTNU 131,000 ABP 10.21
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murchr
#22 Posted : Sunday, August 17, 2014 4:34:42 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
mwekez@ji wrote:
Mainat wrote:
mwekez@ji wrote:
If you want all 2 accounts with the same broker, open one with ID and the other with Passport


Okay-I doubt if one broker will allow. There is also a conceptual/practical question. Why should I not be able to run with more than 1 CDSC account transparently? What is wrong with me putting through two orders with different brokers?


A while back my broker recommended i do that (ID/PP accounts). Yeah, a while back during Kengen IPO. Try out yours they may.

On the conceptual/practical question, hapo sasa, Think

On 3rd matter, you can put through two orders with different brokers. Others may give their experience



@Mainat you can only have one account with the Central Depository & Settlement Corp but you can purchase shares with different brokers. I hold some shares that I bought kitambo with Co-op bank custodial services, and my other broker is D&B.

Believe me you dont want to have several accounts with CDSC. That office is the epitome of ignorance.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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  | | Edit by user: Sunday, August 17, 2014 5:25 PM | Reason: Not specified
VituVingiSana
#23 Posted : Sunday, August 17, 2014 7:39:57 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,437
Location: Nairobi
@mainat - You can open accounts at different brokers to split your long-term and short-term trades. As I understand it, the CDS Account remains the same. So you still have access to your statements from your 'long-term' broker while you trade using the 'other'.

Another wrinkle. CDSC provides e-mail statements if trades take place (e.g. Broker A) BUT will not send you the activity in an account (Broker B) if there are no trades. It makes no sense for e-mailed statements when CDSC sends only info for an account which has trades (Broker A). It doesn't cost them much more to send the 'entire' statement (Broker A + B) by e-mail. Technical challenges or upuzi?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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theking
#24 Posted : Sunday, August 17, 2014 9:22:25 PM
Rank: Member

Joined: 1/25/2010
Posts: 344
can you have different active CDS accounts. YES.
The CDS account has 3parts. broker ID, CDS account and Investor type (FI - foreign individual, LI - Local Individual,FC - foreign co,LC - loc co. etc).

Even if u have CDS accounts with different brokers,parts 2 &3 remain the same,only part one changes.

unless you open the account using a different doc (ID or PP).

Please note that all the different accounts can all be active at the same time. U dont have to sell all shares before opening another account
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subaru
#25 Posted : Sunday, August 17, 2014 10:52:45 PM
Rank: Member

Joined: 3/15/2010
Posts: 391
Location: nairobie
i concur with vvs if its a technical issue let it be sorted out kazi kwenyu cdsc
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Sober
#26 Posted : Monday, August 18, 2014 11:10:05 AM
Rank: Elder

Joined: 11/27/2007
Posts: 3,604
They Insist on 1 CDSC a/count because even if they were to allow 2 at the Central Depository level the system will show only one name, so it beats logic having 2 a/c.
I had an issue the other day when I wanted to open one with a different broker and they couldn't citing my name arrangements with the current broker is different from the ones on the ID card
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Mainat
#27 Posted : Monday, August 18, 2014 12:40:15 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
So to recap:
-CDSC doesn't allow more than 1 cdsc account, but you can get one via pport/id mix
-You can run sub-cdsc accounts with different brokers, but cdsc will not send you a statement of all your holdings.

No reason for the above, just the way it is.

Got it.
Cheers
Sehemu ndio nyumba
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