Only when depositories start allowing inter depository transfer.
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Inter depository transfer is allowed i think i read somewhere. No?
RBI allowed it but still these depositories need to come to common terms.
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I have closed my hdfc securities demat & trading account and transferred my portfolio to zerodha. Only SGB is yet to be transferred. Everything else has been moved to Zerodha. When I enquired hdfc securities they told SGB will take a month or so. Let’s see.
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@siva, As mentioned above, the transfer of SGB from my HDFC Securities account to Zerodha account is stuck. I received a response from HDFC Securities Help as under:-
What do you advise? Sounds complicated to me.
any update on this? can we buy SGB now from Zerodha platform?
Not yet, depositories need to come to common terms, nothing is pending from our end.
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How is it possible that other brokers like Kotak securities allow us to buy SGB in the secondary market? @siva
Operationally it involves lot of work, so they 1st materialize it from one depositary and then dematerialize it, lot of manual work is involved and is not scalable at our client base.
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Does the inter exchange clearance simplification enable one to start buying SGB in the secondary market?
Yes.
That’s a great news!
Recently, when I shifted my SGB from HDFC Sec (NSDL) to Zerodha (CDSL) I went through the tedious process of Remat/ Demat.
How soon Zerodha will facilitate buy/ sell of SGB in the secondary market?
Depends on how soon inter-depositories will come to terms.
@ Siva
If we can’t buy on Secondary Market how does the sell work, doesn’t it not involve lots of paper work similar to buy, can you explain how sell works but not buy?
Thanks
You can go through this thread from the start.
Which brokers allow secondary purchase of SGB units?
Share khan and hdfc sec…
I have share Khan’s account
This is still not working?