Like the way I can do off-market purchase and sale of securities ; can I also do the same in futures ? e.g. can I do off-market transfer of the TCS future?

General
1

like the way I can do off-market purchase and sale of securities ; can I also do the same in futures ? e.g. can I do off-market transfer of the TCS future ?

2

For what joy?

3

is it possible ?

4

An off-market is done when you want to initiate a transer of securities from one demat account to another. A demat account allows you to hold securities and other such instruments in the electronic form, futures/derivatives are merely contracts and not an asset class which is why you can’t transfer/hold these in a demat account.

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@VenuMadhav

Just curious.

What happens when the account holder dies with open F&O positions?

Can the inherited manage the position?

I know the time taken in getting certificates and documents from Govt in practice. Possibly, the positions are squared off because of M2M or the positions are settled on the expiry.

As I said, I am just curious. Is there a way an attorney or lawyer can legally close the F&O of a deceased, as quickly as possible, without papers from Govt?

What would you suggest to a person doing only F&O? How can he be prepared so that the inherited does not lose much on his open positions?

Thanks,

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Know the password to his/her trading account.

8

It gives quick turnaround. But it is not legal. Positions may be closed next day but death certificate produced will show previous day as time of death.

I remember reading about a case where a bank got into problems and subsequently it lead to a fraud case against the son of the deceased because son used dads atm card after dad died.