Can I sell a Bond to myself?

Bonds
1

Can I sell a Bond to myself? I hold a few bonds in my old Demat account with ICICI Direct but want to consolidate everything here in my Zerodha Demat account now…

**Is selling to myself the only option? **

Is it legally allowed?

Any inputs on this would be appreciated… Thanks in advance!!

2

I tried doing this from upstox and zerodha. System did not allow.

3

Maybe you got self trade as rejection error. Don’t know how system carches that.

4

You can do off market transfer. @Bhuvan can you explain more?

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5

You can do off-market transfer. Check this post

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6

I strongly believe that it is prohibited by the exchange and that’s why your order got rejected. It is called self trade which is considered as unscrupulous activity. The client ID you hold with different broker is just for your reference where as exchange consider your trades on the basis of PAN number.

You may not have done it with such an intention, it’s best to ensure that you don’t practice such activities.

2 Likes
7

Thanks everyone for the inputs, appreciate it :slight_smile:

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8

Dont need to do self transaction. Do off market transaction by submitting pay out slip to your existing DP. This is what I did when I moved DP from HDFC Securities to Zeroadha.

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9

Thanks!! but pay out slip mode looks too cumbersome so I have so far left them there on ICICI only