Deutsche Bank has announced its registration with the Central Depository Services (India) Limited (CDSL), India's second share depository. The bank is one of the first foreign custodians to register as a depository participant with the CDSL. The bank's custody clients in India will now have the ability to trade and settle in shares listed on either the CDSL or NDSL.

Five per cent dividend from Tata MF

Tata Mutual Fund has declared a 5 per cent tax free dividend for the first six months under its regular income option of Tata Income Fund. This translates into an income of 50 paise per unit. The record date for the purpose of distribution of dividend is September 27. The fund plans to convert the periodicity of dividend payout from half-yearly to quarterly.

Mock y2k trading at DSE

The Delhi Stock Exchange will remain open tomorrow for mock trading to test its new software system for Y2K compliance. Badla trading, which usually takes place on Saturday, was preponed for Friday, DSE vice-president BB Sahny said. Trading terminals will be tested on the date of September 25, 2000, to check whether the system is free from millennium bug. The security system of the software would also be checked in the process. Once the system proves successful, the trading list will be taken out from the system, Sahny said. There will be another mock trading next month, he added.

Ahmedabad SE broker suspended

The Sebi has suspended Atul Chhabildas Doshi, member of the Ahmedabad bourse , for a period of two months till November 26, 1999. The broker has been suspended for non-segregation of client's funds and own funds, not maintaining client's database and indulging in illegal carry forward transactions, a Sebi release said.

Lure of discounted closed-ended MF

Why should one own a closed-end fund when every mutual fund is floating a brand new open-end fund every other day? Because, a careful buying can get you bargains. A lot of closed-end funds, holding many of the same securities as their open-end cousins, trade for as little as 70 paisa on a rupee.