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  1. NCD Trading Account Opening:

In order to open a NCD Account, banks and financial institutions need to provide the following required documents:

  • Agreement on NCD transaction
  • Request form for using NBCP system for NCD transaction
  • List of NBCP users
  • Other copied documents such as:
    - Memorandum and Article of Associations
    - License
    - Passport or National ID card of Account Holders and Authorized Persons
  1. NCD Auction:

In order to participate in NCD auction, the members of NBCP System must be complied with the below conditions:

  • Members are required to open trading account
  • Members have to submit request in order to participate in NCD bidding on NBCP system with the amount in unit and interest rate on every bidding schedule at 8 am to 2 pm.
  • Settlement on NCD after succeed in bidding will be done through NBCP on the next day after bidding at 1:45 pm.
  • Member’s trading account must guarantee sufficient balance before the NCD settlement session is done.
  1. Ownership Transfer:

NCD Ownership Transfer occurs when the sale of NCDs is straight forward or Repurchased Agreement (REPO) between NCD’s holders with the other banks and financial institutions which have opened their Trading Account at the NBC. These transactions may occur in two cases:

  1. Settlement through the NBC:
    • Both Parties must operate buy-sale transaction on NBCP through Securities Management Division Change Ownership Application Form ⬇
    • NBCP will transfer the amount of buy-sale transaction by deducting the balance from the trading account of NCD buyer to trading account of NCD seller.
  2. Settlement outside of the NBC:
  1. Selling NCDs Back to the NBC:
  • The NBC may buy NCDs back which are not matured by calculating the Repurchasing Price based on the Repurchasing Rate, which is determined by NBC
  • The NCD holder must provide the NCD Selling Back Application Form
    Application Sold Back by One NCD Form ⬇ or Application Sold Back by Many NCDs Form ⬇ to the Securities Management Division of the Banking Operations Department to have a proper time to facilitate their documentations and settlement process in NBCP system.
  • Discounting Method will be applied to the repurchasing price.