n NISM Certifications
VII NISM Series VII
Medium

Clearing Members are required to open demat accounts with which depository?

Practice question from NISM Series VII Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    MCX Depository

  2. B

    NSDL

  3. C

    CDSL

  4. Both 2 and 3

    Correct answer

Why this is the answer

Clearing members must open demat accounts with both NSDL and CDSL, called clearing member accounts. Separate accounts are maintained for each exchange.

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NISM Series VII Mock Test 4