The CSA provides the option for investors with multiple CDS accounts to receive details of all securities transactions on a consolidated statement. Presently, investors with multiple active CDS accounts receive individual statements of each account monthly. Investors with inactive accounts - where accounts have no transactions for 36 months consecutively - will only receive half-yearly statements.
Executive Chairman of the Kuala Lumpur Stock Exchange, Dato' Mohd Azlan Hashim said that the new facility is a key effort of the Exchange in meeting the changing needs of investors.
"The CSA is investor-friendly, providing investors with the choice in the manner in which they would like to receive their statements, either as individual account statements or in a consolidated statement.
"Through the CSA, investors with multiple CDS accounts will be able to manage and reconcile their portfolio of securities held through various CDS accounts more effectively.
"It is certainly more practical for investors with multiple CDS accounts to subscribe to the CSA," Mohd Azlan said.
MCD is offering the CSA for free to all multiple account holders. Investors who are interested in subscribing to CSA are required to complete the Consolidation/Revocation of Consolidated CDS Statement of Account form, available at all Authorised Depository Agents (ADA) or KLSE Member Stockbroking Companies. Investors can submit the completed forms to the ADAs or KLSE Member Stockbroking Companies where the CDS account is maintained. Processing of applications may take up to two market days and no processing fees are imposed.
The CSA will be issued as monthly and half-yearly statements. The CSA monthly statement will detail transactions in all active accounts within the month and it will also state new accounts, inactive accounts and active accounts with no transactions for the month. The CSA half-yearly statement will contain details of all stocks listed in the multiple accounts, including securities in inactive accounts.
"Depending on the requirements of investors, MCD may eventually phase out individual account statements for investors with multiple CDS accounts," Mohd Azlan said.
Investors with multiple CDS accounts are encouraged to subscribe to the CSA to facilitate effective monitoring and management of their investment. For enquiries on the CSA, please contact MCD Customer Relations at 603-2026 2099, fax 603-2026 3726 and e-mail comms_mcd@klse.com.my.