Account Bank ArrangementThis service is offered in combination of a loan facility arrangement & involves in maintaining and administrating various account types including project/cash accounts, reserve and expense accounts.
ESCROW is a deposit of an asset with an independent Escrow Agent to facilitate the completion of a contractual agreement between two or more parties to a transaction.
Custody & Clearing
Custody & Clearing services include a range of “back office services” for clients investments in securities. The core services offered include
- Opening client‟s Securities accounts at the CDS
- Safekeeping of securities
- Settlement of securities
- Corporate Actions (tracking, notification and acting on corporate action instructions of client).
- Income and dividend collection
- Proxy Voting (in accordance with clients instructions)
- Reporting: Trade portfolio reporting (Statement of holdings, transactions reporting, MIS reporting) and other customized reporting as agreed with the client.
- FX conversion on clients behalf
- Providing information to client‟s agents (e.g. chartered accountants/tax agents)
- Market Information communication (Newsflashes, Securities Market Report, etc.)
- The securities include equity, debt, warrants, rights, units (e.g. mutual fund). The same may either be in physical form or may be scripless.
- Clients may contract directly with Standard Chartered Banks individual branches/subsidiaries or they may choose to appoint a single SCB
- Branch/subsidiary as a “Hub” which in turn appoints sub-custodians in the various markets in which the client invests in.