- Contact a Clearing Member (CM) like IL&FS and submit the application for custodial participant (CP) code.
- The Clearing Member request the National Securities Clearing Corporation Ltd. (NSCCL) to allot a CP code in respect of client for which the member would be carrying out clearing and settlement.
- Clearing Member share the custodial participant (CP) code with you.
- Open the NRI trading account with your choice of broker and provide them the CP code.
- The broker will use the CP code for all your trade settlements.
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